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(KTLA) – Another major insurer is pulling back on its offerings in California, forcing tens of thousands of customers to find other options. SafeCo, a subsidiary of California’s fourth-largest ...
[1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically, section 10090 et seq. [4]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [5]
Forcing insurers to renew policies has been California officials' go-to policy for the past several years. In 2018, the California Legislature passed S.B. 824.Written by Lara (then a state senator ...
Insurance is a capital-intensive business with thin profit margins, and many insurers have been hemorrhaging money in California in recent years as wildfires intensify. 2018’s Camp Fire in ...
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A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in ...
For example, if someone’s insurance covers $100,000 for a property, the insurance company might cover another $20,000 — or 20% — in additional living expenses, Collins said.
Zip codes covered by the moratorium for the Palisades Fire include 90049, 90265, 90272, 90290, 90402, 91301, 91302, 91320, 91356, 91361, 91364 and 91436.
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