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California Insurance Commissioner Ricardo Lara recently issued a regulation, which goes into effect later this month, that allows reinsurance costs to be passed on to customers in their premiums ...
California Insurance Code Section 676 requires insurers to provide a specific reason for non-renewal at least 75 days before the policy expires, allowing homeowners time to address issues or find ...
The California regulation will allow insurers to charge homeowners higher premiums to protect ... 10% share of California's home insurance market would have to write 8.5% of the policies in such ...
Here's what's going on — and some steps homeowners can take now to lessen the blow. Read more:State Farm won’t renew 72,000 insurance policies in California, worsening the state's insurance crisis
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 ...
Between 2020 and 2022, insurance companies declined to renew more than 2.8 million homeowners policies in California, according to CNN. In recent years, many insurers have scaled back operations ...
"State Farm to pull out of 72,000 California insurance policies," blared a Reinsurance News headline. State Farm provides nearly 21 percent of state homeowner policies, so this is big news.
State Farm, California’s largest insurer, said last year that it could drop more than 1 million policies in the state over the next five years — a signal that private insurers’ retreat from ...