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Consumer Watchdog, a non-profit group that has previously sounded alarms about FAIR's solvency, warned last year that California homeowners could be on the hook for a $1,000 to $3,700 surcharge ...
(The Center Square) - California homeowners may face noticeable insurance rate hikes under new rules finalized by state regulators that allow property insurers to use complex climate algorithms ...
Some 450,000 homes — about 3% of all state residents — were covered through the California Fair Access to Insurance Requirements plan in September, a 40% increase from a year earlier.
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
As of Thursday, as fires still raged in Los Angeles, JPMorgan estimated that insured losses could exceed $20 billion, with the bulk of the pain coming in homeowners insurance versus reinsurance ...
[A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...
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