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The primary benefit is that all California property insurers must immediately pay out a minimum of one-third of the estimated value of a policyholder’s personal belongings, as well as a minimum ...
"Premiums are increasing in fire-prone areas because insurance companies are dealing with more claims and bigger payouts," says Nick Ramirez, a California-based Goosehead insurance agent. "It’s ...
A litigator in insurance claims gave BI his top tips for getting your money. ... January 21, 2025 at 10:01 AM ... An aerial view of beachfront homes burned in the Palisades Fire in Malibu ...
State Farm, California’s largest insurance company, this week urged the state to approve an emergency rate hike of 22% for homeowner policies starting in May after processing nearly 8,700 claims ...
According to the industry's Insurance Information Institute, California’s insurers paid out $1.08 in claims and claims-related expenses for every dollar collected in premiums between 2013 and 2022.
Size: 23,713 acres Containment: 18% Cause: Under investigation Tuesday marked one week since the deadly fires broke out in the Los Angeles area in Southern California and the fight is far from over.
California lawmakers have created a wildfire insurance fund with access to $21 billion that is meant to ensure that Southern California Edison remains solvent and victims' claims are paid in full.
Mercury stock suffered the steepest decline, dropping nearly 20%. Roughly one-fifth of the homeowners’ insurance premiums the company collects in the US come from California, according to Moody’s.