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Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
California's home insurance crisis: What went wrong, how it can be fixed and what owners can do. Laurence Darmiento. March 29, 2024 at 1:08 PM. ... the state's landmark insurance reform law. Lara ...
Insurance giants State Farm, AIG, and Allstate have each stopped writing homeowner policies in California because of wildfire danger. According to a report issued Wednesday by JP Morgan, the ...
[1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically, section 10090 et seq. [4]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [5]
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.
California was the first state in the U.S. to set up a health insurance marketplace. [ 1 ] [ 2 ] The California Health Benefit Exchange was created in September 2010 when then-Governor Arnold Schwarzenegger signed Assembly Bill 1602, (the "California Patient Protection and Affordable Care Act"), [ 3 ] by Assembly Speaker John Perez, and Senate ...
The state Department of Insurance issued a new regulation last month meant to turn the tide of some of the largest insurance companies' refusal to take on new customers in California or decisions ...
the California Major Risk Medical Insurance Program; the California Healthy Families Program; the Access for Infants and Mothers Program (AIM) which provides comprehensive coverage for children who do not have employer-sponsored insurance and do not qualify for no-cost Medi-Cal