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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 ...
The group found that about 35.6 million properties — a quarter of all U.S. real estate — are facing higher insurance costs and lower coverage because of climate risks. That combination also ...
A revolution is underway in California's insurance market that could provide relief to homeowners in high-fire-risk neighborhoods who have found it difficult to find insurers to cover their homes ...
(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 ...
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.
That would mean that an insurer that has a 10% share of California's home insurance market would have to write 8.5% of the policies in such neighborhoods. The department released preliminary maps ...
Eight insurance companies doing business in California have requested rate increases of at least 20% or higher this year, according to the California Department of Insurance.
Allison Adey, a lobbyist for the Personal Insurance Federation of California, said the draft rules create an onerous review process that could delay how quickly the computer programs could be used ...
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