Insurers’ values determine claims denials more than AI
Insurers’ values determine claims denials more than AI

Using AI to deny property and casualty insurance claims or settle them for less may not be clear cut, and could be done by analyzing other aspects of a claim, like the claimant’s personal finances. “From the advent of things like data mining, AI, risk…
Experts warn CA homeowners insurance premiums could spike in wake of SoCal wildfires
Experts warn CA homeowners insurance premiums could spike in wake of SoCal wildfires

Part of the governor’s state of emergency includes an insurance non-renewal moratorium. The state’s insurance commissioner told our colleagues at KABC Wednesday that he’s working on protecting homeowners in the affected areas from being dropped by their insurer for one year. It’s raising serious questions…
Los Angeles wildfires could make insurance crisis worse
Los Angeles wildfires could make insurance crisis worse

The recent wildfires in Los Angeles could become the most expensive series of wildfires in California’s history, not due to the number of homes lost, but because of the high value of the properties affected, experts say. AccuWeather released a preliminary estimate this week, putting…
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.…
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.…
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…
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…
Liberty Mutual exiting condo, rental insurance market
Liberty Mutual exiting condo, rental insurance market

Liberty Mutual plans to stop offering condo and rental insurance policies in California over the next two years. One of the state’s largest insurers made three filings indicating the withdrawal of business in this category of coverage, the California Department of Insurance reported Dec. 20.…
Liberty Mutual company Safeco drops condo coverage and renters insurance
Liberty Mutual company Safeco drops condo coverage and renters insurance

Another major insurance company is trimming its risk by refusing to sell more insurance to multifamily developments. The insurance commissioner promised a more stable and affordable market, but what we have right now are cross currents, contradictions, and chaos. Safeco is a branch of Liberty…
Policyholders See Notable But Limited Win In NC Virus Suit
Policyholders See Notable But Limited Win In NC Virus Suit

North Carolina’s top court handed policyholders a rare victory last week in finding that the “direct physical loss” requirement for “all-risk” insurance can cover losses connected to the coronavirus pandemic, but… Read more
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,…
Policyholders Win a Covid Case! North Carolina Supreme Court Rules Government Closure Order Can Result In “Direct Physical Damage”
Policyholders Win a Covid Case! North Carolina Supreme Court Rules Government Closure Order Can Result In “Direct Physical Damage”

I have a vision of Amy Bach, the Executive Director of United Policyholders, jumping for joy as she read the North Carolina Supreme Court opinion, which the insurance industry must think of as a Friday the 13th ruling. The court noted its conclusion early in the opinion: Because…
NC Justices Topple Insurer Victory In COVID Coverage Battle
NC Justices Topple Insurer Victory In COVID Coverage Battle

The North Carolina Supreme Court handed policyholders a rare win Friday… Read more
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…
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…