Tag: California home insurance premiums

No, Other States Aren’t Paying for California’s Wildfire Risks, Says State Farm

Angela Linders
State Farm

State Farm Sets the Record Straight on California Wildfire Insurance Wildfires have devastated California. Thousands of families are rebuilding their lives, and insurance companies are at the center of it all. But with so much news swirling around, State Farm wants to clear the air. Here’s what they’re saying about the current situation in California—and what it means for their customers. Helping Californians Recover For six months, State Farm employees, agents, and associates have been on the ground, helping customers recover from the wildfires in Los Angeles. Many left their…

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California Insurance Commissioner Lara seeks new guidance to overcome state crisis

G. Turner
California insurance - Home insurance crisis guidance

The state is working on establishing new regulations to help the industry there recover California Insurance Commissioner Ricardo Lara has reached out to insurers in the state, telling them that they must develop ideas beyond rate hikes to overcome the current crisis in the state. Lara is simultaneously working on new state regulations According to Lara, his office and the California insurance industry are “in a forced marriage,” in which “we’re staying together for the kids.”  However, the commissioner was also able to find common ground with the Farmers Insurance…

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Commissioner Lara doesn’t want easier rate changes for home insurance companies

Nordstrom
Home insurance companies - home, money, calculator

The California Insurance Commissioner is siding with consumer activists to halt legislation. California Insurance Commissioner Ricardo Lara is taking the side of consumer activists in an effort to stop a bill that would make it faster and easier for home insurance companies to change their rates. AB 2167 passed the state Assembly on Monday by a vote of 56-3. That said, the bill’s opponents say that this would set the stage for home insurance companies to impose substantial premiums spikes for homeowners in parts of the state hardest hit by…

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