January 8, 2025 Palisades Fire: Wildfire Evacuation Tips We are keeping an eye on the Palisades Fire and Eaton Fire. Our hearts are with everyone affected by the wildfires in Los Angeles. If told to evacuate due to the wildfire, do so immediately. If you are preparing to evacuate, here are our home…
January 4, 2025 Getting Insured: Tips for finding home insurance in California If 2024 is the year you can finally buy a new home, the next and maybe even greater challenge could very well be getting home insurance. Or perhaps you are a current homeowner and have been dropped by your insurance company. That’s what happened to…
December 30, 2024 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…
December 23, 2024 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.…
December 22, 2024 Plans take shape for Colorado’s FAIR Plan “last resort” home insurance The Colorado FAIR Plan is the first public insurance program to operate in the United States in 40 years to sell property insurance policies to those who cannot find coverage on the open market. Read more
December 21, 2024 Earthquake policyholders few despite quake risk North Bay property owners may be rethinking their insurance coverage following the 7.0 earthquake offthe coast of Humboldt County on Thursday morning. Despite experiencing 90% of the nation’s earthquakes, only 10% of California’s residents have earthquake insurance, according to the Federal Emergency Management Agency. “I…
December 18, 2024 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…
December 18, 2024 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
December 17, 2024 Franklin Fire Update In Malibu On Sunday, December 15, the LA County Sheriff’s Department posted on its Facebook page an update to the Franklin Fire. As of 9 a.m. @lacountyfd reported that acreage remains at 4,037, and containment is now at 42 percent. Teams have completed 95 percent of the…
December 16, 2024 Rockets to our rescue? New insurer uses physics to sell (not drop) home policies Insurance is complicated, with long lawyerly contracts and jargon by the ream. To the average policyholder, it’s as complex as rocket science. And that’s exactly what a new insurance company is bringing to California’s insurance crisis: some rocket science. “This will be a new way…
December 16, 2024 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…
December 16, 2024 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,…
December 15, 2024 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…
December 13, 2024 NC Justices Topple Insurer Victory In COVID Coverage Battle The North Carolina Supreme Court handed policyholders a rare win Friday… Read more
December 13, 2024 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…
December 13, 2024 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…
December 13, 2024 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…
December 12, 2024 ‘Mold, algae’: Insurer drops SF homeowners, citing aerial footage of roof that didn’t exist Have you been dropped by your insurer because of pictures taken of your house? 7 On Your Side investigates an insurance company who did that and looked into its use of aerial footage to make decisions on a local homeowner’s policy. Liberty Mutual Insurance says…
