In The News
KTVU-SF (FOX) – San Francisco, CA: Southern California Wildfires Highlight Home Insurance Industry
If insurers have to make up the difference for this and future fires, Consumer Watchdog says the insurance commissioner wrote a memo saying it's okay to pass on that to all of the other policyholders.
KFMB-SD (CBS) – San Diego, CA: Fair Plan Claims Increasing From LA Wildfires
Consumer Watchdog has been critical of the new regulations. If people are on the fair plan it's because the private insurance industry put them there by not renewing or canceling policies.
NerdWallet – Wildfires Ignite Insurance Crisis: What’s Next for Californians?
By Anna Helhoski, NERDWALLET
https://www.nerdwallet.com/article/insurance/california-wildfire-home-insurance
The wildfires still raging in Los Angeles have displaced thousands of homeowners many of whom have inadequate coverage due to a broken home insurance system in the state. And while new efforts to keep affected...
New York Port – LA Mayor Karen Bass’ office hit with scandals over hush money, bribes and accusations of ‘legalized corruption’
By Isabel Vincent, NEW YORK POST
https://nypost.com/2025/01/17/us-news/la-mayor-karen-bass-office-hit-with-accusations-of-legalized-corruption
Los Angeles Mayor Karen Bass got into office promoting diversity, equity and inclusion (DEI) and promising to tackle homelessness and pollution but she never promised to drain the swamp.
Now she stands accused of adding...
CNN – New insurance rules mean homeowners throughout California are likely to pay more after fires
By Chris Isidore, CNN
https://edition.cnn.com/2025/01/17/business/california-fire-cost-insurance-premium-hike/index.html
New York (CNN) - A recent rule change could cause insurance premiums to spike for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that...
San Francisco Chronicle – State Farm’s finances were a worry even before L.A. fires. Here’s what we know about its ability to pay claims...
By Megan Fan Munce, SAN FRANCISCO CHRONICLE
https://www.sfchronicle.com/california-wildfires/article/state-farm-insurance-fire-20034384.php
Months before the Los Angeles wildfires sparked, State Farm’s California arm was already in trouble, it told state regulators.
Its policyholder surplus — the cash it has on hand to pay out claims — had dropped from...
San Diego Union Tribune – Home insurance was already hard to get. Then came L.A.’s fires. Here’s what San Diegans need to know.
By Lori Weisberg & Kristen Taketa, SAN DIEGO UNION-TRIBUNE
https://www.sandiegouniontribune.com/2025/01/19/home-insurance-already-was-already-hard-to-get-then-came-the-l-a-fires-heres-what-san-diegans-should-know/
David and Peggy Blue were dumbfounded when they were notified last month that their home insurance would not be renewed because of a tall sycamore tree that overhangs their Altadena house....
Los Angeles Times – California’s FAIR Plan, the home insurer of last resort, may need a bailout after the L.A. fires
By Laurence Darmiento, LOS ANGELES TIMES
https://www.latimes.com/business/story/2025-01-18/california-fair-plan-the-home-insurer-of-last-resort-may-need-bailout-after-fire-losses
The California FAIR Plan Assn., the state’s property insurer of last resort, was born of smoldering ashes — not of a wildfire, but of one of the worst urban disturbances in U.S. history.
The Watts riots...
Bloomberg – LA Fires Test Bond Market Used to Shaking Off Disasters
By Maxwell Adler, Mark Chediak, and Amanda Albright, BLOOMBERG
https://www.bnnbloomberg.ca/investing/2025/01/16/la-fires-test-bond-market-used-to-shaking-off-disasters
(Bloomberg) -- There’s a truism in municipal debt: Bonds rarely move on natural disasters. That long-tested concept had held up until fires destroyed thousands of properties in Los Angeles last week.
The Los Angeles Department...
Ohio Capital Journal – California fires show states’ ‘last resort’ insurance plans could be overwhelmed
Homeowners everywhere could get stuck with the bill when disaster strikes, experts fear.
By Alex Brown, OHIO CAPITAL JOURNAL
https://ohiocapitaljournal.com/2025/01/17/california-fires-show-states-last-resort-insurance-plans-could-be-overwhelmed/
In the months before thousands of Los Angeles homes went up in flames, property insurance companies dropped coverage in many neighborhoods...
Rolling Stone: Opinion – Insurance Companies Will Try To Exploit The L.A. Fires. We Can’t Let Them
OpEd By Carmen Balber
https://www.rollingstone.com/culture/culture-commentary/la-fires-insurance-exploitation-1235239102
They say they need deregulation to help deal with disasters like the wildfires. It won’t help homeowners
Mother Nature exploded in Los Angeles this month with the most damaging wildfires in the city’s, and likely the nation’s, history....
KABC-AM (Radio) – Los Angeles, CA: Policyholders Could Be On The Hook If The Fair Plan Goes Under
By Staff Reporters, KABC-AM – Los Angeles, CA
Click below to listen to the audio of this radio broadcast segment.
Stateline – California fires show states’ ‘last resort’ insurance plans could be overwhelmed
By Alex Brown, STATELINE
https://stateline.org/2025/01/16/california-fires-show-states-last-resort-insurance-plans-could-be-overwhelmed/
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 climate change.
As a result,...
Sacramento Bee – Bill meant to help stabilize California insurance market has support. When could it pass?
By Stephen Hobbs, SACRAMENTO BEE
https://www.sacbee.com/news/politics-government/capitol-alert/article298552728.html
A bill meant to help stabilize California's troubled insurance market has key early support as wildfires continue to cause devastation in and around Los Angeles.
The measure, introduced by Democratic Assembly members Lisa Calderon and...
KGO-SF (ABC) – San Francisco, CA: The Fate Of The California Fair Plan
If the California fair plan goes bankrupt, what does that mean for the average consumer, and how likely is that to happen? Jamie Court says you can bet that if the Fair Plan goes bankrupt, and it's a good bet it will, the insurance companies will come after us to pay the debts that they owe.
Wall Street Journal – Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire
By Jean Eaglesham and Sara Randazzo, WALL STREET JOURNAL
https://www.wsj.com/finance/insurers-rule-change-puts-california-homeowners-on-the-hook-for-l-a-fire-88336040?st=j48Sbs&reflink=desktopwebshare_permalink
ALTADENA, Calif.—A little-noticed rule change last year by California’s insurance regulator will likely shift a large chunk of the cost of the Los Angeles wildfires to homeowners across the state.
Pushed by insurers, the change...
We Will All Be Paying For L.A.’s Wildfires
By Lois Parshley, LEVER & ROLLINGSTONE
https://www.levernews.com/we-will-all-be-paying-for-l-a-s-wildfires/?utm_source=newsletter-email&utm_medium=link&utm_campaign=newsletter-article
Over a year before Los Angeles’ uncontrollable wildfires burned through neighborhoods once considered safe, the office of California Insurance Commissioner Ricardo Lara quietly shared a potential regulatory plan with insurance company lobbyists. It...
KPIX-SF (CBS) – San Francisco, CA: Californians Could Face Insurance Surcharges If Los Angeles Fire Claims Deplete FAIR Plan
Consumer Watchdog has been critical of the new regulations. From the beginning it was an attempt by companies to get all ratepayers to foot the bill for disaster losses.
Lookout – Santa Cruz County agents say new insurance rules offer hope for homeowners, even as fires rage in Southern California
By Hillary Ojeda, LOOKOUT SANTA CRUZ
https://lookout.co/santa-cruz-county-agents-say-new-insurance-rules-offer-hope-for-homeowners-even-as-fires-rage-in-southern-california/
Local insurance agents say they’re hopeful that planned new state regulations will allow them to write more home insurance policies, but say the future is still uncertain when it comes to access and...
CNN – U.S. Cable: FEMA Received 16,000+ Applications For Individual Assistance
Consumers should try and get a copy of their insurance policy and then start collecting receipts, start recording everything. Many consumers don't know that they have a right to get reimbursement from their insurance company for evacuation costs, and they can get a big portion of their policy limits up front. If you're in an evacuation area and especially if you already know you lost your home, contact your insurance company right away. You can get an advance on your policy limits.
Politico E&E News – Every California homeowner could pay tab for LA wildfires
By Thomas Frank, E&E NEWS
https://www.eenews.net/articles/every-california-homeowner-could-pay-tab-for-la-wildfires/
The Los Angeles wildfires could force California residents to pay billions of dollars to bail out the state’s teetering property insurance program, an analysis by POLITICO’s E&E News shows.
A bailout could further destabilize a...
ReInsurance Business – USAA leaders discuss rising insurance costs in California
By Jonalyn Cueto, REINSURANCE BUSINESS
https://www.insurancebusinessmag.com/us/news/reinsurance/usaa-leaders-discuss-rising-insurance-costs-in-california-520063.aspx
In a recent CNBC interview, USAA’s outgoing CEO Wayne Peacock and incoming CEO Juan Andrade addressed the rising insurance costs and risks in California, amid recent wildfires in Los Angeles. The conversation shed light...
Los Angeles Times – How the devastating Los Angeles fires could deepen California’s home insurance crisis
By Laurence Darmiento, LOS ANGELES TIMES
https://www.latimes.com/business/story/2025-01-09/la-fires-property-home-insurance-crisis-fair-plan-lara-state-farm-allstate-palisades-eaton-altadena-wildfires
When raging wildfires tore through Pacific Palisades and other local communities this week, they not only left a path of destruction reminiscent of a World War II bombing campaign, but also threatened to...
Mercury News – What the Los Angeles fires might mean for the Bay Area home insurance market
By Ethan Varian, Molly Gibbs, Jovi Dai, MERCURY NEWS
https://www.mercurynews.com/2025/01/09/los-angeles-fires-home-insurance-bay-area/
The devastating wildfires burning through Los Angeles County this week are stoking concerns that California's already could be thrown into deeper turmoil.
The fires engulfing thousands of homes come on the...
The Center Square – Blazes could break California’s last-resort insurer; plans may not cover all damage
By Kenneth Schrupp, THE CENTER SQUARE
https://www.thecentersquare.com/california/article_3f92d976-ce0a-11ef-9efc-bb80f6754a0d.html
(The Center Square) - California’s fire insurer of last resort has long been on the brink of insolvency. Not only could FAIR customers – in the absence of a government bailout – face...
CNN International (US) – U.S. Cable: 5,000 Nuildings Damaged Or Destroyed In Los Angeles Fires
The most important thing to do if you've been evacuated and fear that your home may be lost, is start documenting everything.
KTVU-SF (FOX) – San Francisco, CA: Challenges of Getting Affordable Insurance In CA
Harvey Rosenfield says consumers have been losing coverage as the industry tries to adjust to year after year of catastrophic wildfires.
KGO-SF (ABC) – San Francisco, CA: Concerns About CA’s “Fair Plan” Insurance
Carmen Balber says it's pretty easy to understand that if you put all the risky people in one basket and something big happens, we start to run into financial troubles.
Los Angeles Daily News – Southern California wildfires add to growing worries about homeowner insurance
By Jeff Collins & Pat Maio, LOS ANGELES DAILY NEWS
https://www.dailynews.com/2025/01/08/southern-california-wildfires-add-to-growing-worries-about-homeowner-insurance/
Wildfires spared Tim Scanlon's Altadena home as of Wednesday afternoon, even after devouring a neighbor's landscaping and torching several nearby properties.
But the music licensing executive worried that the firestorms...
Associated Press – How the wildfires in the Los Angeles area could affect California’s home insurance market
By Tran Nguyen, ASSOCIATED PRESS
https://apnews.com/article/california-wildfires-los-angeles-insurance-6fbb51bd3060743da0638baf4cf2845d
SACRAMENTO, Calif. (AP) — The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped issuing residential policies due to...
CNN – California’s insurance is in crisis. The solution will cost homeowners a ton
By Chris Isidore, CNN
https://www.cnn.com/2025/01/09/business/california-wildfires-homeowners-insurance/index.html
Lynne Levin-Guzman stood in the front yard of her 90-year-old parents’ home in Los Angeles County, California, trying to protect it with a garden hose — because their insurance company no longer would.
“I know I’m...
CNN International (US) – U.S. Cable: More Than 1,000 Structures Destroyed By Palisades Fire
It's a long road, but there are a lot of protections in place in California to ensure that your insurance company does pay what they've promised. It's really important for those who are evacuated now, especially if they know already that they've lost their home, that they start documenting everything and that starts with receipts for their evacuation costs because one thing that some homeowners may not know is that their insurance company will generally cover additional expenses for leaving your home.
KMAX-SAC (CW) – Sacramento, CA: New Wildfire Insurance Fears
It feels apocalyptic in L.A. right now and things have changed for everyone in the middle of this.
Common Dreams – Amid LA Inferno, Home Insurers Under Fire for Policy Cancellations
By Brett Wilkins, COMMON DREAMS
https://www.commondreams.org/news/california-wildfire-insurance
As deadly wildfire incinerated more than 1,000 homes and other structures in Los Angeles County this week, insurance companies are sparking outrage for having recently canceled homeowners' policies across California—including in some of the...
KOGO-AM (Radio) – San Diego, CA: New insurance Regulation Could Lead To Higher Premiums And Limited Coverage Options
By Staff Reporters, KOGO-AM – San Diego, CA
Click below to listen to the audio of this radio broadcast segment.
KGTV-SD (ABC) – San Diego, CA: New Regulation Increasing Wildfire Coverage
Consumer Watchdog calls the rule a power grab.
KGTV-SD (ABC) – San Diego, CA: Increasing Homeowner’s Wildfire Coverage
Jamie Court believes this plan will make wildfire insurance too expensive to afford.
Insurance News Net – Elias: New insurance law will work – for the companies
By Thomas Elias, INSURANCE NEWS NET
https://insurancenewsnet.com/oarticle/elias-new-insurance-law-will-work-for-the-companies
The newspaper headline asked the proper question, but the story that followed missed the point. It read, "California's plan to stabilize its home insurance market is now law. Will it work?"
The headline writer clearly...
KGTV-SD (ABC) – San Diego, CA: CA Insurers Must Now Cover Fire-Prone Areas
Consumer Watchdog says this new rule is not the answer. Companies have multiple loopholes they can use to not increase the amount of coverage they are offering in california.
KPBS-FM – San Diego, CA: Loopholes In New Insurance Regulation Can Result In Double Digit Rate Hikes
By Staff Reporters, KPBS-FM – San Diego, CA
Click below to listen to the audio of this radio broadcast segment.
UPI – New California regulations aim to ease insurance crisis in wildfire-prone areas
By Sheri Walsh, UPI
https://www.upi.com/Top_News/US/2025/01/02/california-home-insurance-rules/6001735792977
New emergency insurance regulations in California will require home insurance providers write more policies, including in high-risk wildfire-prone areas, to ease the state's insurance crisis.
The new state rules, released for the start of the new year, will...
KPCC-FM (Radio) – Los Angeles, CA: Insurance Regulation Could Come At A Cost
By Staff Reporters, KPCC-FM – Los Angeles, CAClick below to listen to the audio of this radio broadcast segment.
KNX-AM (Radio) – Los Angeles, CA: Consumer Watchdog Says New Inurance Regulation Will Only Make California’s Situation Worse
By Staff Reporters, KNX-AM – Los Angeles, CA
Click below to listen to the audio of this radio broadcast segment.
KTVU-SF (FOX) – San Francisco, CA: More Changes For Insurance policies In California
Consumer Watchdog says the regulations are seriously flawed. There is no legally binding commitment in this document that they have to cover more people but we're all going to be paying more.
KPCC-FM (Radio) – Los Angeles, CA: New Regulation Allows Insurance Companies To Use Secret Algorithms To Raise Rates Unaccountably
By Staff Reporters, KPCC-FM – Los Angeles, CA
Click below to listen to the audio of this radio broadcast segment.
KFMB CW – San Diego, CA: New CA Homeowners Insurance Regulations
Consumer Watchdog plans to sue to stop the new regulation as the prices could go up by 40 to 50%
KBAK (CBS) – Bakersfield, CA: State Expands Wildfire Insurance Coverage
This was a proposal drafted by a insurance company lobbyists behind closed doors with no public comment. An outrageous abuse public trust.
Washington Examiner – California to require home insurance coverage be offered to high-risk areas
By Jack Birle, WASHINGTON EXAMINER
https://www.washingtonexaminer.com/policy/energy-and-environment/3273059/california-require-home-insurance-coverage-high-risk-areas-wildfires/
California Insurance Commissioner Ricardo Lara introduced a new regulation Monday aimed at expanding coverage to areas at high risk of wildfires after insurers have limited options for those areas in recent years.
In recent years, wildfires have been costly, which...
KXTV-SAC (ABC) – Sacramento, CA: Home Insurance Coverage Rules
Consumer Watchdog worries homeowners will see double digit rate increases.
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