Browsing: wildfires

California’s Insurance Commissioner, Ricardo Lara, has denied State Farm’s request for an immediate rate increase following the Los Angeles fires, demanding more information and setting up a potential confrontation.

AM Best’s commentary highlights the increasing challenges in California’s property insurance sector, driven by severe wildfires and insurer pullbacks.

State Farm General Insurance Company provides updated information regarding its financial condition and dealings with the California Department of Insurance in light of recent wildfires and rate requests.

New legislation aims to stabilize California’s property insurance market by expanding FAIR Plan coverage, extending moratoriums, and establishing a commission to study community hardening programs.

Recent wildfires in Los Angeles are expected to be some of the costliest in California’s history, with insured losses potentially reaching $40 billion.

Assemblyman James Gallagher and Senator Brian Jones addressed California’s critical legislative issues in a recent discussion.

California Insurance Commissioner Ricardo Lara has issued a notice providing crucial protections for property insurance policyholders affected by recent wildfires.

The recent wildfires in the Los Angeles area have exacerbated an existing crisis in California’s home insurance market, leaving many residents without adequate coverage.

The increasing frequency and severity of wildfires, particularly in California, are driving greater adoption of sophisticated risk management tools within the insurance industry.

Insurance Commissioner Ricardo Lara unveils California’s Sustainable Insurance Strategy to address climate change, market challenges, and protect consumers.