Insurance In The News
Mercury News – Walters: California consumer price regulation often protects companies
We still don’t know if rates limits for PG&E, fire insurance and rent are working as we debate whether to expand them
By Dan Walters,...
Insurance Business – California voters oppose insurance reforms, says Consumer Watchdog
Reforms labelled a "deregulation deal with insurers"
By Mike Pangilinan, INSURANCE BUSINESS
https://www.insurancebusinessmag.com/us/news/catastrophe/california-voters-oppose-insurance-reforms-says-consumer-watchdog-467078.aspx
California voters oppose proposed reforms that would provide insurance companies more leeway to set...
Palo Alto Weekly – How California’s fire insurance woes are impacting Peninsula homeowners
By David Goll, PALO ALTO WEEKLY
https://www.paloaltoonline.com/news/2023/11/16/how-californias-fire-insurance-woes-are-impacting-peninsula-homeowners
Over the past decade, multiple destructive wildfires have ravaged California, creating an unprecedented homeowners insurance crisis both locally and...
Politico – Fire Fight
By Wes Venteicher, POLITICO
https://www.politico.com/newsletters/california-climate/2023/11/15/climate-scientists-on-strike-00127501
FIRE FIGHT: Insurance Commissioner Ricardo Lara’s main antagonist is out with a poll today throwing cold water on his plans to shore up...
Insurance Business – California democrats voice concern over insurance reforms
They say proposed changes threaten consumer protections under Prop 103
By Mike Pangilinan, INSURANCE BUSINESS
https://www.insurancebusinessmag.com/us/news/breaking-news/california-democrats-voice-concern-over-insurance-reforms-466094.aspx
Thirty-two members of California’s Democratic Congressional Delegation have written a letter...
Spectrum News 1 (San Fernando Valley) – Los Angeles, CA: Fire Insurance Affordability
https://www.youtube.com/watch?v=sU6BGRhfuAE&feature=youtu.be
Carmen Balber says homeowners should push state lawmakers to hold insurance companies accountable, so what people can really do aside from shopping around is go to their state lawmakers...
Insurance Business – Consumer group highlights “loopholes” in California’s insurance reforms
By Mike Pangilinan, INSURANCE BUSINESS
https://www.insurancebusinessmag.com/us/news/property/consumer-group-highlights-loopholes-in-californias-insurance-reforms-465492.aspx
A consumer advocacy group in California has claimed that a rule introduced by insurance commissioner Ricardo Lara lacks substantial consumer...
The San Francisco Chronicle – Four more home insurance brands leave California
By Clare Fonstein, SAN FRANCISCO CHRONICLE
https://www.sfchronicle.com/california/article/california-loses-four-home-insurance-companies-18457381.php
Four small insurers say they will not renew California home policies starting in 2024.
The four companies -- Merastar Insurance...
Mercury News – Consumer group says records show California insurance commissioner drafted proposed market fix with industry lobbyists
Some insurance companies have cancelled homeowners policies or refused to write new policies
By John Woolfolk, MERCURY NEWS
https://www.mercurynews.com/2023/10/27/consumer-group-says-records-show-insurance-commissioner-drafted-proposed-market-fix-with-industry-lobbyists/
A consumer group says California's Department of Insurance...
KNX-AM (Radio) – Los Angeles, CA: California’s Deal With The Insurance Industry To Preserve Wildfire Coverage Is A Sham
By Staff Reporters, KNX – Los Angeles, CA
Click below to listen to the audio of this radio broadcast segment.
KGO-SF (ABC) – San Francisco, CA: Consumer Watchdog and the Insurance Commissioner’s Office Are In A Brawl Today
https://www.youtube.com/watch?v=W3UAWhrsbtU
Harvey Rosenfield discusses how a big selling point for the Insurance proposal, we were told, was a guarantee that insurance companies would sell more...
Politico – Black Box Open
By BLANCA BEGERT and CAMILLE VON KAENEL, POLITICO
With help from Jordan Wolman and Wes Venteicher
https://www.politico.com/newsletters/california-climate/2023/10/25/what-newsom-said-to-xi-on-climate-00123654?nname=california-climate&nid=00000189-315c-d8dd-a1ed-797dc9f10000&nrid=0000014c-2419-d9dd-a5ec-34bdbd970004&nlid=2745178
BLACK BOX OPEN: The Insurance Department was pushing lawmakers to pass industry-friendly measures in...
Insurance Journal – Viewpoint: California’s Personal Auto Market: Steering Through Change
By Yost, INSURANCE JOURNAL
https://www.insurancejournal.com/news/west/2023/10/20/744823.htm
The withdrawal of major homeowners insurance companies in the California market made national headlines, but news just as concerning and impactful...
LA Ist – In Wildfire-Prone Areas, Homeowners Are Learning They’re Uninsurable
By Lois Parshley, LA IST
https://laist.com/news/climate-environment/in-wildfire-prone-areas-homeowners-are-learning-theyre-uninsurable
It wasn’t the first summer Justin Guay went outside and choked on smoke. Or the second. But by the time wildfire...
Insurance Business – Consumer Watchdog files petition against Mercury for discrimination, price gouging
Company purportedly violated significant insurance reform initiative
By Kenneth Araullo, INSURANCE BUSINESS
https://www.insurancebusinessmag.com/us/news/auto-motor/consumer-watchdog-files-petition-against-mercury-for-discrimination-price-gouging-463032.aspx
Consumer Watchdog filed a petition to intervene in an enforcement action initiated by the...
The Grist – In wildfire-prone areas, homeowners are learning they’re uninsurable
Wildfires cause billions in home damage every year. Now, insurers no longer want to take on the risk.
By Lois Parshley, THE GRIST
https://grist.org/economics/in-wildfire-prone-areas-homeowners-are-learning-theyre-uninsurable/
It wasn't the...
Best Wire – Consumer Group Seeks to Ban Mercury Insurance From California
By Timothy Darragh, BEST WIRE
https://news.ambest.com/newscontent.aspx?refnum=253273&altsrc=23
A consumer group has filed a petition to intervene in a California Department of Insurance enforcement action against Mercury Insurance...
San Francisco Chronicle – Californians face an insurance crisis. Can they trust the man in charge of fixing it?
State Insurance Commissioner Ricardo Lara is a political ladder-climber with a long track record of ethical scandals who clearly wants a different job
By Emily...
Northwest News Radio – Seattle, WA: New Insurance Agreement is Terrible for Consumers Because It Will Mean Higher Rates & Less Regulation On Insurance Giants
By Staff Reporters, Northwest News Radio - Seattle, WA
Click below to listen to the audio of this radio broadcast segment.
The Messenger – California Regulator Caves on Rates to Bring Insurance Companies Back
Even Governor Newsom is on the last-resort FAIR Plan
By Kathleen Howley, THE MESSENGER
https://themessenger.com/business/california-reforms-after-insurance-companies-pulled-out
California’s state insurance regulators were trying to protect homeowners from being overcharged...
Politico – It’s no fun being California insurance commissioner
By Camille Von Kaenel, POLITICO
https://www.politico.com/news/2023/09/28/california-insurance-commissioner-wildfire-00118929
SACRAMENTO, Calif. - California insurance commissioner used to be a stable bolthole for ambitious politicians waiting for a plum statewide...
WAJR AM 1440 – Clarksburg, WV: New Rules Could Increase Insurance Premiums By More Than 30%
By Staff Reporters, WAJR - Clarksburg, WV
Click below to listen to the audio of this radio broadcast segment.
Associated Press – Things to know about California’s new proposed rules for insurance companies
By Adam Beam, ASSOCIATED PRESS
https://apnews.com/article/california-home-insurance-wildfire-risk-premiums-047bdfa514ce93dac83c82735a15554a
SACRAMENTO - Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's...
Property Casualty 360 – California insurance regulation reforms applauded as move in right direction
By Steve Hallo, PROPERTY CASUALTY 360
https://www.propertycasualty360.com/2023/09/28/california-insurance-regulation-reforms-draw-strong-industry-support/?slreturn=20230828151831
While California’s property insurance reform proposals are yet to be ironed out, the industry is striking an overall optimistic note on...