Calif. annuity legislation must pass by 2025 to avoid ‘dual regulation’
Calif. annuity legislation must pass by 2025 to avoid ‘dual regulation’

California Senate Bill 263, which would make California the 41st state to adopt best-interest annuity sales rules, has stalled amid pushback from consumer groups. It is currently in the suspense file with the Assembly Appropriations Committee, and five consumer associations want it to stay that…
Insurance Crisis: Bay Area Insurance Company That Left California Leaves Arizona, Nevada
Insurance Crisis: Bay Area Insurance Company That Left California Leaves Arizona, Nevada

When CSE Insurance announced to its agents earlier this month that it was pulling out of California and would not be renewing its customers’ policies, the company was the latest in a long list of insurers exiting the state. Now, The Standard can report that…
Survivors Speak: Ten Days in Lahaina
Survivors Speak: Ten Days in Lahaina

Driving along the idyllic West Maui coast on a characteristically stunning day in early September, all looked as beautiful as ever. As I crested the hill on the south of end of Lahaina, John Lennon’s ‘Imagine’ was playing on the radio. And I began to…
Tightening the Reins: California Insurance Companies and Car Accident Compensation Claims
Tightening the Reins: California Insurance Companies and Car Accident Compensation Claims

California, with its sprawling cities and vast highway networks, sees a significant volume of traffic, making car accidents a common occurrence. The aftermath of such incidents often spirals into a complex web of insurance claims and legal battles as victims seek compensation for their damages.…
Is the lack of flood insurance coverage the next coverage crisis for California?
Is the lack of flood insurance coverage the next coverage crisis for California?

Thousands of homes may be at risk of flooding, but few are covered against this type of catastrophe. Though we tend to think of wildfires as the main risk to property owners in California, climate change and a majority of homes without flood insurance could…
Could flooding fuel CA’s next insurance crisis? What data shows for thousands of Bay Area homes
Could flooding fuel CA’s next insurance crisis? What data shows for thousands of Bay Area homes

Climate change is predicted to drive increasing sea level rise across the country in the coming decades — and thousands of families in the Bay Area are unprepared for the flooding impacts. The ABC7 data journalism team analyzed data from the First Street Foundation, a…
Flooding and water resources for Southern California
Flooding and water resources for Southern California

Want to know what the flood risk is in your area or how to protect your home during a storm? Check out the resources below. Want to know what the flood risk is in your area? What about how to protect your home and family…
California Annuity Sales Rule Bill Stalls
California Annuity Sales Rule Bill Stalls

The California State Legislature is not moving forward with SB 263, a bill to update annuity sales standards that is supported by the insurance industry but has drawn fierce opposition from consumer groups. The bill sailed through the state Senate in May, with no opposing…
Mitigation Matters
Mitigation Matters

No matter where you live, if you’re a homeowner today, you need to do your best to maintain your property and take steps to avoid it being damaged or destroyed in a severe weather event. Why? 1) No place on earth is immune from risk…
What New York homeowners and renters should know about flood insurance.
What New York homeowners and renters should know about flood insurance.

Standard homeowners’ and renters’ policies don’t cover damages that can be caused by the kind of heavy rains that hit New York City on Friday. It’s an unfortunate fact: Standard homeowners’ and renters’ insurance policies don’t cover damages caused by flooding. People who live in…
County hosts webinar on homeowners insurance
County hosts webinar on homeowners insurance

The current crisis of property insurance affordability and availability that’s impacting homeowners, as well as options for keeping homes protected, are the subjects of a county-wide public webinar. Read more.
New Jersey Supreme Court to rule on pandemic-related insurance exclusions
New Jersey Supreme Court to rule on pandemic-related insurance exclusions

New Jersey’s Supreme Court is considering whether an Atlantic City casino can get payouts from business interruption insurance for losses during the COVID-19 outbreak, potentially providing guidance for policyholders nationwide regarding the scope of coverage for pandemic-related losses. The state’s high court heard arguments Wednesday…
Will this plan solve California’s insurance crisis? This is what you need to know
Will this plan solve California’s insurance crisis? This is what you need to know

A week after negotiations to save California’s faltering home insurance market stalled in the Legislature, the state’s top insurance regulator unveiled its own plan to save the effective value of a swap for the first. which is the state insurer. Under the proposed regulations announced…
What to know about California’s plan to fix its insurance crisis
What to know about California’s plan to fix its insurance crisis

Gov. Gavin Newsom’s announcement last month of a major home insurance overhaul is being met with skepticism in some corners over fears the deal will cause rates to rise for the average homeowner, even as Sacramento seeks to safeguard the marketplace for millions of landowners.…
As premiums rise, consumers need answers – some states are on the case
As premiums rise, consumers need answers – some states are on the case

As auto and home insurance premiums continue to rise across the United States, insurance oversight agencies are reporting a marked increase in consumer complaints and inquiries that seek to understand the reasons for increased pricing and what they can do to qualify for lower rates.…
California’s New Home, Auto Insurance Strategy Is Controversial. Here’s Why
California’s New Home, Auto Insurance Strategy Is Controversial. Here’s Why

It happened like clockwork. On Thursday, Gov. Gavin Newsom issued an executive order calling for swift action to expand insurance coverage options for consumers. Hours later, California Insurance Commissioner Ricardo Lara outlined what he termed “the largest insurance reform” in decades. The regulation, to be…
California Insurance Carriers Can Use Disaster Models for Pricing
California Insurance Carriers Can Use Disaster Models for Pricing

California has reached an “historic” agreement with insurance carriers to modernize the way pricing is related to the cost of disasters in order to stem an exodus of the largest carriers from the Golden State. After seven of the top 12 insurance carriers in California…
California announces changes to home insurance market to address wildfire coverage
California announces changes to home insurance market to address wildfire coverage

Wildfires have prompted some insurance companies to cease writing new policies In a bid to bolster wildfire coverage in the face of increasing natural disasters, California is set to revamp its home insurance market with a series of new regulations, announced last week. In recent…