Tag: Consumer Watchdog

APCIA Criticizes Consumer Watchdog’s Eligibility in California Insurance Proceedings

Logan B.
California insurance nonprofit organization consumer advocate group

Controversy Arises in California Insurance Over Consumer Watchdog’s Eligibility The American Property Casualty Insurance Association (APCIA) has issued a statement against Consumer Watchdog following a recent development that has sparked significant controversy within the insurance industry. Consumer Watchdog, a nonprofit organization, was deemed eligible to receive compensation in California Department of Insurance proceedings as an intervenor for the next two years. This decision came despite numerous concerns raised by both the insurance industry and government officials regarding the group’s role and effectiveness. Industry Concerns Raised Questions have emerged about how…

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California Homeowners Face 34% Rate Hike as Allstate Follows State Farm’s Lead in Insurance Shakeup

Archie Walsh
California Homeowners insurance rates going up

LOS ANGELES: In a move that mirrors State Farm’s recent actions, Allstate is seeking a substantial increase in its California homeowners insurance premiums. First reported by the Los Angeles Times, Allstate aims to raise rates by an average of 34%, marking the largest rate hike in the state this year. If approved by the California Department of Insurance, this increase will impact over 350,000 policyholders. This latest development follows State Farm’s request for significant rate increases, including a 50% hike for renters and a 30% hike for homeowners. The six-largest…

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Who’s Responsible? California Faces New Rate Hikes from State Farm and Allstate

Nordstrom
State Farm and Allstate Buildings - Who is causing high rates in California

California homeowners and renters may soon face significant financial strain as two of the state’s largest insurers, State Farm and Allstate, announce hefty rate hikes. These increases come against a backdrop of escalating climate change impacts and urban expansion into wildfire-prone areas. Significant Increases from Major Insurers State Farm, the largest home insurer in California, has applied for substantial rate hikes across its various insurance lines. The company, which insures nearly one in five homes in the state, has requested a 30% increase for homeowners insurance, a 52% increase for…

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California’s Insurer of Last Resort on the Brink Amid Wildfire Crisis

Angela Linders
california fair plan

Catastrophic Wildfires Upend Insurance Landscapes The California Fair Access to Insurance Requirements (FAIR) Plan, established as a safety net for homeowners in high-risk fire zones, faces an unprecedented threat of insolvency amid a flurry of catastrophic wildfires and increasing claims. This predicament has sparked intense scrutiny and discussions on sustainable insurance strategies while leaving many to wonder about the future of fire insurance availability in the state. The Increasing Burden on California FAIR Plan With an exodus of insurers from California’s market, the FAIR Plan has swelled to double its…

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State Farm aims to raise California auto insurance rates by $264 million

Live Insurance News
Auto insurance rates - Cash

The insurer is now catching up to other companies in raising their rates to pre-pandemic levels. Drivers in California who have been enjoying lower auto insurance rates than they were paying before the pandemic are likely to be losing that price advantage in the near future. The insurer will be returning the premiums it charges back up from the lows they hit after 2020. As motorists have stopped sheltering in place and are back on the roads, and the majority of people who had been working remotely are now headed…

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