September 28, 2023 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.
September 27, 2023 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…
September 27, 2023 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…
September 27, 2023 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.…
September 25, 2023 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…
September 25, 2023 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…
September 24, 2023 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…
September 24, 2023 Can this plan fix California’s insurance crisis? What you need to know Lara-backed deal would allow major insurers to charge more in exchange for requiring coverage in wildfire-prone areas 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…
September 24, 2023 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…
September 22, 2023 Wildfire-prone California will allow property insurers to factor future climate risks into pricing Unlike other states, California does not let insurance companies consider future risks when deciding how much to charge for an insurance policy. California will let insurance companies consider climate change when setting their prices, the state’s chief regulator announced Thursday, a move aimed at preventing…
September 22, 2023 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…
September 22, 2023 California plans big insurance shifts as climate change hits home The actions of the nation’s biggest insurance market could have implications for U.S. consumers, as more carriers leave disaster-prone states California top leaders announced Thursday that they are making reforms to the state’s insurance system to stabilize the market, a big shift in one of…
September 22, 2023 Wildfire-prone California to consider new rules for property insurance pricing 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…
September 22, 2023 California overhauls home insurance market after wildfire coverage losses. Here’s what that means California will overhaul its home insurance market in an effort to shore up wildfire coverage under new regulations announced Thursday. In recent years as natural disasters have torn through the state, some insurance companies have stopped writing new policies, non-renewed customers and increased rates —…
September 21, 2023 California considers new rules for property insurance pricing 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…
September 21, 2023 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…
September 21, 2023 Commissioner Lara announces Sustainable Insurance Strategy to improve state’s market conditions for consumers Commissioner Lara announces Sustainable Insurance Strategy to improve state’s market conditions for consumers Governor Newsom issues executive order — comprehensive package of executive actions aimed at immediate and lasting changes to protect insurance consumers from climate change Insurance Commissioner Ricardo Lara announced a package of…
September 21, 2023 Wildfire-prone California announces new rules for property insurance pricing California’s Insurance Commissioner Ricardo Lara said the state will let insurance companies consider climate change when setting their prices, 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…
