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“The high wildfire risk in California has led to insurance companies withdrawing from underwriting policies in some parts of the state or limiting coverage for perils like wildfire, making it ...
The Wildfire Insurance Coverage Study Act would require the Government Accountability Office to examine the availability and affordability of home insurance in fire-prone areas. The GAO would also ...
Home insurance policies cover wildfires, however, if you are in a high-risk fire area an insurer may deny coverage based on the risk your home presents. Other carriers may offer you coverage but ...
The California FAIR Plan is an insurance program of last resort for homeowners in high-risk areas of the Golden State who are unable to obtain fire coverage in the private insurance market.
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Extended coverage is a term used in the property insurance business. All insurance policies have exclusions for specific causes of loss (also called "perils") that are not covered by the insurance company. An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning.
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
Insurance Commissioner Ricardo Lara announced new regulations Wednesday to prod insurers to offer coverage to homeowners in neighborhoods with high wildfire risks as part of his proposed reform of ...
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