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Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to again provide policies in fire ...
California insurers will be required to sell coverage in wildfire-prone regions that have seen an insurer exodus in recent years, state Insurance Commissioner Ricardo Lara announced Monday. Under ...
Under the new rules, insurance companies will have 180 days to submit rate filings that incorporate the wildfire safety standards and establish a process for releasing wildfire risk determinations ...
Of the top 20 most destructive wildfires in state history, 14 have occurred since 2015, according to the California Department of Forestry and Fire Protection. Insurance companies have responded ...
Insurance Commissioner Ricardo Lara announced new regulations Wednesday to prod insurers to offer coverage to homeowners in neighborhoods with high wildfire risks as part of his proposed reform of ...
From 2017 to 2020, the national average home insurance premium in the United States rose by 11.4% while inflation rose by only 7.9% after extreme weather events and secondary catastrophes (which include wildfires, thunderstorms, droughts, flash floods, and landslides) caused $370 billion in inflation-adjusted claims, [142] and the increasing ...
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