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In the months before thousands of Los Angeles homes went up in flames, property insurance companies dropped coverage in many neighborhoods of the city, citing the growing wildfire risks caused by ...
More than 4,400 fire-affected homeowners in Los Angeles County have filed insurance claims with the state’s insurer of last resort — the California FAIR Plan. That’s enough to kick the plan ...
Asked about its homeowner coverage in the areas affected by the wildfires, State Farm said in a statement Wednesday that its "number one priority right now is the safety of our customers, agents ...
Despite investing thousands in fire mitigation measures, homeowners continue to be dropped by their insurance providers. Recently, State Farm and Allstate announced plans to reduce coverage in 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]
“The high wildfire risk in California has led to insurance companies withdrawing from underwriting policies in some parts of the state or limiting coverage for perils like wildfire, making it ...
Two California representatives in Washington are trying to combat the state’s home insurance crisis that has left many residents without coverage as wildfires tear through the Los Angeles area ...
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 ...