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Get major insurers to write policies for high-risk areas: The California Department of Insurance is looking for the top 12 home insurance companies in the state to commit to writing a minimum of ...
From 2012 to 2021, home insurers in California lost money on underwriting and insurance transactions, while nationwide average profit margins on those deals were 3.6% to 4.2%, respectively.
An analysis of insurance data by CBS San Francisco last year found that State Farm also dropped more than 2,000 policies in two other Los Angeles ZIP codes, which include the Brentwood, Calabasas ...
From 2018 to 2023, the state-operated home insurers of last resort in California, Florida, and Louisiana saw their total number of policyholders double, with the Florida insurer of last resort, Citizens Property Insurance Corporation, increasing to 1.4 million policyholders and became the largest home insurer in the state.
The Los Angeles-based company, the state's second-largest home insurer, said it will boost the number of homeowners policies it will accept from new customers to 9,500 per month, up from 7,000 ...
Compared to home values, the average statewide premium in 2023 was the lowest among all 50 states, according to the Reuters analysis. California’s high property values may make that insurance ...
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