Wildfire-prone California to consider new rules for property insurance pricing
Wildfire-prone California to consider new rules for property insurance pricing

California will let insurance companies consider climate change when setting their prices, the state’s chief regulator announced Thursday, a move aimed at preventing insurers from fleeing the state over fears of massive losses from wildfires and other natural disasters. Unlike other states, California does not…
The flood of insurance companies out of California is so bad that the golden state is changing its whole climate change pricing plan
The flood of insurance companies out of California is so bad that the golden state is changing its whole climate change pricing plan

A new plan from California’s insurance commissioner aims to stop the nation’s top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices. Unlike most states, California tightly restricts how insurance companies can price policies. Companies aren’t allowed to…
Can this plan fix California’s insurance crisis? What you need to know
Can this plan fix California’s insurance crisis? What you need to know

A week after negotiations to rescue California’s floundering home insurance market stalled out in the Legislature, the state’s top insurance regulator put out his own rescue plan that effectively amounts to a trade for the state’s major insurers. Under proposed regulations Insurance Commissioner Ricardo Lara…
Insurance Crisis: Newsom Orders Action That Could Raise Rates
Insurance Crisis: Newsom Orders Action That Could Raise Rates

California has announced a new plan to shore up the state’s tenuous home insurance market after multiple insurers cut business in the state and legislators failed to negotiate a solution. On Thursday, Gov. Gavin Newsom ordered the state’s insurance commissioner, Ricardo Lara, to take “prompt…
Wildfire-prone California to consider new rules for property insurance pricing
Wildfire-prone California to consider new rules for property insurance pricing

A new plan from California’s insurance commissioner aims to keep the nation’s top insurers from leaving the wildfire-prone state California will let insurance companies consider climate change when setting their prices, the state’s chief regulator announced Thursday, a move aimed at preventing insurers from fleeing…
Insurance premiums could surge in these American cities because of climate disasters, new data shows
Insurance premiums could surge in these American cities because of climate disasters, new data shows

Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. An analysis of from nonprofit research group First Street Foundation found nearly 39 million homes and commercial properties – about 27% of…
Insurance premiums could surge in these American cities because of climate disasters, new data shows
Insurance premiums could surge in these American cities because of climate disasters, new data shows

Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. An analysis of from nonprofit research group First Street Foundation found nearly 39 million homes and commercial properties – about 27% of…
Insurance premiums could surge in these U.S. cities because of climate disasters, new data shows
Insurance premiums could surge in these U.S. cities because of climate disasters, new data shows

Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. An analysis of from nonprofit research group First Street Foundation found nearly 39 million homes and commercial properties – about 27% of…
Webinar: Briefing on the Current Home Insurance Market in California
Webinar: Briefing on the Current Home Insurance Market in California

BUTTE COUNTY AND CONSUMER GROUP TO HOST A BRIEFING ON THE CURRENT HOME INSURANCE MARKET IN CALIFORNIA Oroville, Calif.— On Tuesday, October 3, 2023, the County of Butte and the consumer non-profit United Policyholders (UP) will co-host a countywide webinar for California homeowners on the…
Policyholder forum set for Lahaina
Policyholder forum set for Lahaina

Attorneys and insurance officials will help Maui residents understand the insurance process after the recent fires during a forum from 9 to 11 a.m. Saturday. The Maui Wildfires Policyholder’s Forum will take place at Hula Grill Restaurant in Whalers Village Shopping Center at 2435 Kaanapali…
California tries for a different path than Florida on insurance
California tries for a different path than Florida on insurance

State officials trying to figure out how to stem the exodus of property insurers from wildfire-prone areas are looking with trepidation at hurricane-ravaged Florida. Floridians are furious at their elected officials for allowing sky-high insurance premiums driven by catastrophic storms. California’s leaders are eager to…
Fire insurance topic of PV Fire Safe Council meeting
Fire insurance topic of PV Fire Safe Council meeting

Joel Laucher, preparedness advocate for United Policyholders, will talk about “Keeping Your Home Protected When Insurance Options Are Limited – and Expensive” at the Pleasants Valley Fire Safe Council meeting on Monday. An item on being safer from wildfires is also on the agenda. The…
California insurers lobby for sweeping changes to state law in ‘secret’ meetings
California insurers lobby for sweeping changes to state law in ‘secret’ meetings

Insurers are reportedly engaged in negotiations with the California insurance commissioner and state legislators, seeking significant revisions to the state’s insurance laws before the conclusion of the legislative year. Consumer Watchdog, a longtime consumer advocacy group, said insurers are working on a secret plan to…
A Wildfire Sheds Light: Mutual Aid Is Everyone’s Future
A Wildfire Sheds Light: Mutual Aid Is Everyone’s Future

Will We Change or Will We Burn? Everywhere in the US decades of public funding cuts are a fact of life. At present, governmental sources of crisis support, though they are crucial, are unlikely to ever be sufficient. Community-built systems of mutual aid may, as…
Florida’s insurance industry is in flux as Idalia cleanup begins
Florida’s insurance industry is in flux as Idalia cleanup begins

Homeowners face uncertainty amid the upheaval that has emerged in Florida’s insurance industry in recent years. As cleanup begins in the aftermath of Hurricane Idalia, the storm has served as a stark reminder that Florida’s insurance industry remains in flux. Idalia made landfall in Florida’s…
Secret in-flight recording sparks rage over possible wildfire insurance ‘bailout’
Secret in-flight recording sparks rage over possible wildfire insurance ‘bailout’

A conversation with a lobbyist secretly recorded on an airplane is shedding light on discussions of possible wildfire insurance legislation that consumer advocates are worried will be pushed through the Legislature in the final two weeks of the session. “We are trying to jam a…
Insurance Crisis: Another Major Home Insurer To Limit Business in California
Insurance Crisis: Another Major Home Insurer To Limit Business in California

Another major insurance company plans to impose new restrictions on its homeowners business in California, potentially worsening the state’s growing insurance woes and making it more difficult for homeowners and buyers to cover their residences. United Services Automobile Association—more commonly known as USAA—will sharply increase…
DeSantis’ New Insurance Law Could Make It Harder to Rebuild After Hurricane Idalia
DeSantis’ New Insurance Law Could Make It Harder to Rebuild After Hurricane Idalia

The legislation makes it difficult to sue insurance companies for short-changing policyholders. Hurricane Idalia struck Florida 190 miles north of Tampa on Wednesday as a Category 3 storm, a classification that causes “devastating” damage, according to the National Oceanic and Atmospheric Administration. With 125-mile-per-hour winds…