Five people have been charged in a large-scale insurance fraud scheme involving misrepresented life insurance policies that resulted in fraudulent commissions totaling over $1.4 million. The five, which include a former insurance agent, reportedly fraudulently obtained more than $1.4 million …
California Insurance Commissioner Ricardo Lara provisionally approved State Farm’s request for a 22% interim homeowners insurance rate hike, the California Department of Insurance announced on Friday. The approval depends on whether the company can justify the rate increase with data …
Ahead of a decision from California’s insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their opposing cases in letters to Commissioner Ricardo Lara. Breaking News Update: After …
More insurers are paying contents coverage to California wildfire victims without requiring a detailed inventory, according to the California Department of Insurance. The CDI reported on responses from carriers following a notice issued by California Insurance Commissioner Ricardo Lara in …
Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes earlier this month. The picture …
Verisk said on Thursday it will be the first modeler to request a review of its wildfire catastrophe model under a reform pushed by California Insurance Commissioner Ricardo Lara. The reform allows catastrophe models to be used by insurance carriers …
A California man was sentenced to 16 years in prison for filing false claims on dozens of auto collisions. Jacob McNabb, 33, of Bakersfield, was sentenced following a jury’s guilty verdict on four felony counts including insurance fraud after a …
The CEO of one of California’s largest vocational return to work counseling centers appeared in court this week after being charged with 23 felony counts including insurance fraud, theft and forgery. Hazel Ortega, 53, of La Habra, was charged after …
The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …
Four Los Angeles area residents were arrested after a California Department of Insurance investigation reportedly found the suspects allegedly committed insurance fraud by claiming a bear had caused damage to their vehicles. It turns out it was a person in …
