Los Angeles wildfires rage as California homeowners battle an ‘insurance crisis’
Los Angeles wildfires rage as California homeowners battle an ‘insurance crisis’

Analysts estimate the insured losses in Pacific Palisades alone could approach $10 billion, squeezing insurance companies at a time when some have been pulling back policies. The wind-driven wildfires burning out of control in the Los Angeles area couldn’t have emerged at a more perilous…
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer

The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in US history, draining insurance coffers and threatening California’s massive state-sponsored insurance program. Losses from the fires “could push insurance markets over the brink in California,” said Michael…
California overhauled its insurance system. Then Los Angeles caught fire.
California overhauled its insurance system. Then Los Angeles caught fire.

On Tuesday, after a ferocious Santa Ana windstorm blew through Southern California, a severe brush fire broke out in the wealthy Pacific Palisades neighborhood of Los Angeles, burning at least 1,000 structures and forcing hundreds of thousands of residents to evacuate as of Thursday morning.…
Insurance claim tips for homeowners affected by Southern California wildfires
Insurance claim tips for homeowners affected by Southern California wildfires

Multiple wildfires have been sweeping across Los Angeles County since Tuesday, killing at least five and pushing thousands out of their homes. The total damage is not yet known; the fires were 0% contained as of Wednesday. For the owners of the 1,000-plus structures destroyed…
If you lost your home or business in the wildfires, here’s what to do next
If you lost your home or business in the wildfires, here’s what to do next

With thousands of structures destroyed by wildfires that continue to rage out of control around Los Angeles, homeowners and business owners face a long road ahead to recoup their losses. Filing an insurance claim is one of the many tasks to take care of after…
Frustrated About Insurance Denials? You’re Not Alone.
Frustrated About Insurance Denials? You’re Not Alone.

My book “Delay, Deny, Defend: Why Insurance Companies Don’t Pay Claims and What You Can Do About It” was thrust into the spotlight recently after UnitedHealthcare CEO Brian Thompson was killed last month in what authorities say was a targeted attack. Investigators at the scene…
Getting Insured: Tips for finding home insurance in California
Getting Insured: Tips for finding home insurance in California

If 2024 is the year you can finally buy a new home, the next and maybe even greater challenge could very well be getting home insurance. Or perhaps you are a current homeowner and have been dropped by your insurance company. That’s what happened to…
California finalized its plan to ease home insurance crisis. Here’s what it means for rates
California finalized its plan to ease home insurance crisis. Here’s what it means for rates

When a major wildfire hits, insurance companies call on insurance of their own — and starting next year, they’ll be able to charge consumers for part of the millions of dollars they spend on it. Insurance companies purchase reinsurance for the same reasons homeowners purchase…
Plans take shape for Colorado’s FAIR Plan “last resort” home insurance
Plans take shape for Colorado’s FAIR Plan “last resort” home insurance

The Colorado FAIR Plan is the first public insurance program to operate in the United States in 40 years to sell property insurance policies to those who cannot find coverage on the open market. Read more
Earthquake policyholders few despite quake risk
Earthquake policyholders few despite quake risk

North Bay property owners may be rethinking their insurance coverage following the 7.0 earthquake offthe coast of Humboldt County on Thursday morning. Despite experiencing 90% of the nation’s earthquakes, only 10% of California’s residents have earthquake insurance, according to the Federal Emergency Management Agency. “I…
Rockets to our rescue? New insurer uses physics to sell (not drop) home policies
Rockets to our rescue? New insurer uses physics to sell (not drop) home policies

Insurance is complicated, with long lawyerly contracts and jargon by the ream. To the average policyholder, it’s as complex as rocket science. And that’s exactly what a new insurance company is bringing to California’s insurance crisis: some rocket science. “This will be a new way…
Why California Insurers Are Being Forced Back Into Wildfire Zones
Why California Insurers Are Being Forced Back Into Wildfire Zones

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…
Insuring your home has never been harder. Here’s how to do it.
Insuring your home has never been harder. Here’s how to do it.

Christina Temple moved to Truckee, California, to buy her first home. The small mountain town, a short drive from Lake Tahoe, offered the former preschool teacher and her husband, a carpenter, a shot at becoming middle class by escaping crushing housing costs near Santa Cruz,…
California issues landmark rules to improve home insurance market
California issues landmark rules to improve home insurance market

Landmark regulations intended to encourage insurers to write more policies in risky wildfire neighborhoods through the use of complex computer models were released Friday by the state. Under new rules intended to stabilize California’s troubled home insurance market, insurers will be able to set rates…
In a California “first,” Commissioner Lara announces enforcement of regulation to expand insurance coverage across state
In a California “first,” Commissioner Lara announces enforcement of regulation to expand insurance coverage across state

For Release: December 13, 2024 Media Calls Only: 916-492-3566 Email Inquiries: cdipress@insurance.ca.gov In a California “first,” Commissioner Lara announces enforcement of regulation to expand insurance coverage across state Homeowners and businesses will see greater availability, market stability, and recognition for wildfire safety through use of…
California’s Evolving Insurance Market: Is Relief on the Horizon?
California’s Evolving Insurance Market: Is Relief on the Horizon?

California’s home insurance market has been under immense pressure in recent years, leaving homeowners dealing with uncertainty about their coverage. Farmers Insurance, the state’s second-largest home insurer, recently announced a significant decision to expand the number of policies it writes each month. While it marks…
‘Mold, algae’: Insurer drops SF homeowners, citing aerial footage of roof that didn’t exist
‘Mold, algae’: Insurer drops SF homeowners, citing aerial footage of roof that didn’t exist

Have you been dropped by your insurer because of pictures taken of your house? 7 On Your Side investigates an insurance company who did that and looked into its use of aerial footage to make decisions on a local homeowner’s policy. Liberty Mutual Insurance says…
Farmers Insurance says they’ll write more policies as homeowners’ market improves
Farmers Insurance says they’ll write more policies as homeowners’ market improves

Farmers is California’s second-largest home insurer and the largest business insurer. It now says California’s “improved insurance marketplace” allows it to expand the number of policies it writes each month. But, does that mean California’s insurance drought is ending? With a total 8.4 million homes…