The California FAIR Plan Association is publicly supporting a bill to amend the California Insurance Code to allow the FAIR Plan to write commercial coverage for permanent structures on farms. The California Fair Access to Insurance Requirements, or FAIR, Plan …
Insurance Commissioner Ricardo Lara will convene a “virtual investigatory hearing” on Monday to initiate a series of regulatory actions that will protect residents from the increasing risk of wildfires. Several years of destructive wildfires have made insurance expensive and difficult …
When house hunting, the price of homeowners insurance probably isn’t top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save a homeowner a bundle. This could be …
This post is part of a series sponsored by CoreLogic. California’s 2017 and 2018 catastrophic wildfire events hit state insurers historically hard, with record-breaking losses of over $25 billion.1 2 Three years later, state regulators, utility companies, and insurers are …
A fund that offers only fire insurance to California residents in wildfire-prone areas can’t be required to provide coverage for other hazards such as flooding or theft, a judge ruled this week. Superior Court Judge Mary Strobel this week issued …
A newly proposed bill would clarify under California law the concept of “hardened homes” that are safer or more resistant to wildfires and then require admitted carriers to cover those homes. California’s insurance commissioner and several lawmakers on Tuesday introduced …
More than a million California homes are now protected under a new state order that temporarily bans insurance companies from dropping customers in areas affected by recent wildfires, officials announced this week. Insurance Commissioner Ricardo Lara issued a moratorium earlier …
Editor’s note: This story has been updated with comments from a FAIR Plan official. The battle between the California Department of Insurance and the FAIR Plan will continue to rage on in the wake of two severe wildfire seasons. The …
Note: This is been updated with a statement from Lara’s office. The FAIR Plan today filed a petition for a writ of mandate seeking to have a court annul, vacate, or withdraw an order issued last month by the California …
California Insurance Commissioner Ricardo Lara on Thursday issued a mandatory one-year moratorium on insurance companies non-renewing policyholders, a move he says will help at least 800,000 homes in wildfire disaster areas in Northern and Southern California. The commissioner’s action is …
