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In 1963, the Rumford Fair Housing Act (AB 1240) was introduced in the California State Assembly, by Assemblyman William Byron Rumford. [2] The act banned racial discrimination among mortgage holders, real estate brokers, property owners and landlords who refuse to rent or sell to tenants or potential buyers on the basis of color. [3]
The California Real Estate Association also supported California Proposition 10 on the November 1950 election ballot (adding Article 34 to the California Constitution and known as the "Public Housing Project Law") which made it significantly more difficult to build low-rent housing projects in California communities. [13]
California does have an insurance program under the Fair Access to Insurance Requirements Plan, established in the 1960s, which provides fire insurance coverage for high-risk properties. 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]
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 ...
Bankrate’s premium data from Quadrant Information Services indicates that the annual average cost of home insurance in California is $1,217 for $250,000 in dwelling coverage, which is about 28 ...
The Real Estate Commissioner is appointed by the Governor, and serves as the chief executive of the Department of Real Estate. [4]Chika Sunquist was appointed Commissioner of the California Department of Real Estate (DRE) by Governor Gavin Newsom on November 28, 2023, and she assumed office on January 3, 2024.
Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at ...