Tag: California FAIR plan

Insurance Companies Under Fire After Tyler Perry’s Viral Post

Angela Linders
Tyler Perry from the Academy Awards

Tyler Perry’s Outrage Over Insurance Cancellations Hollywood mogul Tyler Perry recently expressed his frustration with home insurance companies canceling policies as Los Angeles battled catastrophic wildfires. His social media post highlighted what he described as “pure greed” from these insurers, pointing out the plight of homeowners left unprotected after faithfully paying premiums for years. Perry shared the heartbreaking story of a woman using a garden hose in a desperate attempt to save her 90-year-old parents’ home, which had lost its insurance coverage just before the fires. “Does anyone else find…

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High Wind Warnings Issued as California Faces $20 Billion in Fire Losses

Live Insurance News
California wildfires

California Wind Forecast and Fire Risk Southern California is bracing for another dangerous fire weather event as the Santa Ana winds are set to return. After a brief reprieve over the past 24 hours, forecasters predict wind gusts of up to 65 mph will sweep through the region late Saturday into Sunday morning, once again intensifying wildfire threats. The National Weather Service has issued High Wind Warnings for much of Los Angeles and Ventura Counties, elevating the fire outlook to a “Critical” risk level. Key fire zones, including areas affected…

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Palisades Fire Sweeps Through Southern California, Fueled by Strong Santa Ana Winds

Tate Ellison
Palisades Fire

A Dangerous Start to 2025 for Southern California On Tuesday morning, the Palisades Fire erupted in the hills north of Malibu, fueled by powerful Santa Ana winds clocking up to 80 miles per hour, exceptionally low humidity, and persistent drought conditions. The blaze quickly grew, threatening thousands of homes in Pacific Palisades and leaving local authorities scrambling to protect lives and property. By late afternoon, the fire scorched over 1,200 acres, with more than 13,000 structures still at risk. Los Angeles Mayor Karen Bass emphasized the urgency of the response.…

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Why California Insurers Are Being Forced Back Into Wildfire Zones

Angela Linders
California Insurers

California Introduces New Rules to Boost Wildfire Coverage in At-Risk Areas California has long struggled with providing adequate home insurance to residents living in wildfire-prone regions. After devastating fires in recent years and increasing climate risks, a new set of regulations aims to stabilize the insurance market and expand coverage to residents in high-risk areas. These landmark rules, set to take effect on January 2, 2025, form part of California Insurance Commissioner Ricardo Lara’s broader Sustainable Insurance Strategy. Background For years, California homeowners in areas prone to wildfires have faced…

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State Farm Seeks Major Rate Increase in California

Live Insurance News
state farm insurance news

State Farm, California’s largest insurer, is proposing sizable rate increases for its residential insurance policies in the state, potentially impacting millions of homeowners and renters. The company has filed for a 30% rate hike for its homeowners’ insurance, a 52% increase for renters, and a 36% escalation for condominium owners. This marks the third major change for State Farm in California within a year. State Farm’s Justification In a statement, State Farm indicated that these rate increases are necessary for the long-term sustainability of its California subsidiary, State Farm General.…

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