Browsing: California wildfires

A consumer group has filed a lawsuit against California Insurance Commissioner Ricardo Lara to prevent insurers from passing on $500 million in FAIR Plan losses from Los Angeles wildfires to policyholders.

Colorado insurance premiums have already accounted for fire risk. Experts say the recent wildfires in California are unlikely to cause immediate premium increases for Colorado homeowners.

Heritage Insurance estimates significant losses due to California wildfires and Hurricane Milton, impacting its fourth-quarter earnings.

Many California insurance companies commit to expedited payments for wildfire victims, but major insurers like State Farm decline, creating concerns.

As wildfires continue to devastate California, homeowners face an increasingly precarious insurance landscape, with rising costs, policy cancellations, and reliance on last-resort options.

State Farm is seeking an emergency rate increase for homeowners insurance in California following the Los Angeles County wildfires. Consumer advocates are criticizing the request, citing the company’s financial status.

State Farm General Insurance, California’s largest home insurer, has requested a 22% rate increase, citing losses from recent wildfires.

Wildfires in California are increasing flood risks, potentially forcing homeowners to pay for expensive flood insurance.

California’s largest home insurer, State Farm General, has requested a significant rate increase due to financial strain from recent wildfires, sparking concerns among policyholders and regulators.