Housing Market 2023: Allstate and State Farm Halt Homeowners Insurance In California — Smart Ways Californians Can Still Get Coverage
Housing Market 2023: Allstate and State Farm Halt Homeowners Insurance In California — Smart Ways Californians Can Still Get Coverage

ust as wildfire season begins, State Farm General Insurance Company, State Farm’s provider of homeowners insurance in California, announced it would not accept any new applications for home insurance policy as of May 27 “due to historic increases in construction costs outpacing inflation, rapidly growing…
State Farm, Allstate not accepting new homeowner policies over California wildfire risk
State Farm, Allstate not accepting new homeowner policies over California wildfire risk

Insurance companies like State Farm and now Allstate are not accepting new homeowner policies due to California’s wildfire risk. There will be no change to existing policy holders, but it will be tough for people looking for new coverage. An industry expert said the changes…
Allstate also halting home insurance policies in California due to wildfire risk
Allstate also halting home insurance policies in California due to wildfire risk

ABC7 reported how State Farm Insurance stopped selling new homeowner policies in California on Saturday — now a second major carrier, Allstate Insurance, confirmed today it ended new home policies in the state last year. On top of that, sources tell 7 On Your Side…
Four Steps to Finding Home Insurance in California
Four Steps to Finding Home Insurance in California

If you’ve been dropped by your home insurance company, there are steps you can take to stay protected Not having insurance for your home can be nerve-wracking, and more and more, there are homeowners put in positions where their insurance companies drop them, citing high…
State Farm won’t sell new home insurance in California. Can the state shore up the market?
State Farm won’t sell new home insurance in California. Can the state shore up the market?

State Farm made national headlines last week when it said it would stop selling new home insurance policies in California. As California’s largest single provider of bundle home insurance policies — the company had 20% of the market in 2021 — the news struck some…
State Farm won’t write new home policies in California. Here’s what could happen next
State Farm won’t write new home policies in California. Here’s what could happen next

State Farm, California’s largest property and casualty insurer, ceased writing new homeowners’ policies in the state on Saturday, citing wildfires, rising construction costs and challenges with reinsurance. Consumers were left worrying that their rates would soar and it would be harder to get insurance. Some…
Can California shore up home insurance market after State Farm halts new policies?
Can California shore up home insurance market after State Farm halts new policies?

The retraction of California’s biggest home coverage provider is only the latest development in a wildfire-fueled crisis State Farm made national headlines last week when it said it would stop selling new home insurance policies in California. As California’s largest single provider of bundle home…
Unregulated insurers taking a bigger piece of Louisiana’s property insurance market
Unregulated insurers taking a bigger piece of Louisiana’s property insurance market

Upstart ‘insurtech’ company among firms gaining customers in state For nearly a decade, Denise Hancock always turned to a broker to find competitively priced home insurance. So when her insurer, United Property and Casualty, went under earlier this year, Hancock appealed to her longtime agent.…
Consumer advocates say other insurance companies can help after State Farm won’t take on new policies for property owners
Consumer advocates say other insurance companies can help after State Farm won’t take on new policies for property owners

Consumer advocates say other insurance companies can help New neighborhoods going up in the Foothills could be in the path of grassfires, and homeowners are required to have insurance. But some are asking now what? State Farm announced it would no longer be accepting new…
California’s largest homeowner insurance provider no longer writing new policies
California’s largest homeowner insurance provider no longer writing new policies

While State Farm’s decision impacts potential new customers, those who currently hold a homeowner’s policy with State Farm will continue to be covered. California’s largest provider of homeowner insurance says that it will no longer write any new policies for both personal and business properties.…
Getting Answers: What does State Farm’s updated insurance policy mean for Californians?
Getting Answers: What does State Farm’s updated insurance policy mean for Californians?

When State Farm recently announced it would not accept new home insurance policies in California, it sent a ripple effect throughout the market. The state’s largest property insurer said it would not drop existing customers. People living in the Sierra Foothills know nature and uncertainty…
Victory for Pharma Giant Merck in NotPetya Cyber Attack Suit Redefines “Act of War” Insurance Claims
Victory for Pharma Giant Merck in NotPetya Cyber Attack Suit Redefines “Act of War” Insurance Claims

A long-simmering suit involving pharmaceutical giant Merck and the 2017 NotPetya cyber attack has finally been ruled on, and the victory for Merck means that cyber insurers now have much less ground to stand on when denying insurance claims on an “act of war” basis.…
Merck’s $1.4 billion cyberattack claim – the specter of NotPetya
Merck’s $1.4 billion cyberattack claim – the specter of NotPetya

Court ruled insurers could not rely on exclusion A US state appeals court last week dealt a blow to a group of insurers relying on a war exclusion to avoid paying up for a chunk of a $1.4 billion insurance claim from NotPetya cyberattack victim…
Merck cyber coverage upheld in NotPetya decision, seen as victory for policyholders
Merck cyber coverage upheld in NotPetya decision, seen as victory for policyholders

A court victory in the closely watched insurance case is expected to stabilize a turbulent market and provide some assurance for organizations amid a rise in nation-state activity. A New Jersey appellate court upheld a prior ruling in favor of Merck, a major pharmaceutical company…
Emergency Prep: Your money and preparing for debilitating financial disasters
Emergency Prep: Your money and preparing for debilitating financial disasters

Residents of California know we should have an emergency preparedness kit and be ready for disasters such as earthquakes and wildfires. But have you thought about disaster preparedness for your finances? Take some steps now to organize important documents and plan how you’ll access them…
New Jersey Appeals Court Affirms War Exclusion Does Not Apply to Cyber Attack
New Jersey Appeals Court Affirms War Exclusion Does Not Apply to Cyber Attack

The appellate division of New Jersey Superior Court has upheld a state trial court opinion that the war exclusion in drugmaker Merck & Co.’s all-risk property insurance policies does not apply in the case of the cyber attack that the company suffered in 2017. The…
Car flies into Placer County home, couple reportedly left in limbo with insurance
Car flies into Placer County home, couple reportedly left in limbo with insurance

PLACER COUNTY – A Placer County couple found themselves living in a trailer on their property after a car flew into the second story of their home last weekend. Turns out, that is not the only surprise they’re facing. After a painstakingly long process to…
Dehumanizing and Traumatic: Underinsurance Following a Major Disaster Can Be a Daunting Hill to Climb Alone
Dehumanizing and Traumatic: Underinsurance Following a Major Disaster Can Be a Daunting Hill to Climb Alone

Insurance companies have resisted changes to the industry that would benefit survivors of natural disasters, making it more difficult for homeowners facing this dire situation. The second moment of trauma There is another looming moment not often talked about that comes in the wake of…