By Rahul Kumar, UNITED BUSINESS JOURNAL https://theubj.com/business/california-governor-proposes-expedited-review-process-for-insurance-rate-increases-what-you-need-to-know/#google_vignette Governor Gavin Newsom’s recent announcement regarding California’s homeowners’ insurance market reflects the severity of the challenges facing the state. With insurers increasingly withdrawing from renewing policies, halting new policy issuance, or even exiting the...

By Laurence Darmiento, LOS ANGELES TIMES https://www.latimes.com/business/story/2024-05-13/california-governor-newsom-insurance-rates-fair-plan#:~:text=What%20to%20know,conference%20in%20Sacramento%20in%202020.&text=With%20insurers%20continuing%20to%20pull,requests%20for%20rate%20hikes%20reviewed. With insurers continuing to pull back from the California’s homeowners’ market, Gov. Gavin Newsom wants to speed up the process by which the companies have their requests for rate hikes reviewed.  The governor said Friday...

By Megan Fan Munce, SAN FRANCISCO CHRONICLE https://www.sfchronicle.com/california/article/newsom-home-insurance-rates-19451293.php Gov. Gavin Newsom is getting more directly involved in the insurance crisis by proposing legislation to speed up the time it takes for insurance companies to raise their rates.  At a Friday news conference...

By Ethan Varian, ORANGE COUNTY REGISTER https://www.ocregister.com/2024/05/07/one-of-californias-largest-home-insurance-companies-is-raising-rates-by-15/ One of California’s largest home insurers is raising rates for hundreds of thousands of state policyholders by an average of 15.3%, the latest move by a major insurer to boost homeowners’ premiums in...

By Staff Reporters, KCBS-AM – San Francisco, CA  Click below to listen to the audio of this radio broadcast segment.

By Beth Musselwhite, REINSURANCE NEWS https://www.reinsurancene.ws/consumer-watchdog-opposes-proposal-for-black-box-models-in-wildfire-risk-prediction Consumer Watchdog opposes Californian Insurance Commissioner Ricardo Lara’s proposal to allow insurance companies to use black-box catastrophe models and artificial intelligence (AI) for predicting catastrophic wildfire risks, citing concerns that this approach will increase...

https://www.youtube.com/watch?v=4GTm698dYok Many California homeowners are hurting, they are facing big rate increases or the threat of nonrenewal from insurance company.

https://www.youtube.com/watch?v=v0oXJK5y8Ok Harvey Rosenfield says insurance companies are permitted for the first time in California to use computer models that are black box models that cannot be assessed by the public. If this proposal goes into effect, people's rates will...

By Megan Fan Munce, SAN FRANCISCO CHRONICLE https://www.sfchronicle.com/california/article/allstate-home-insurance-19419045.php One of California’s largest home insurers says it plans to resume writing new policies — as soon as the state implements regulations insurers have been asking for.  Allstate stopped writing new homeowner policies in November 2022 due...

By Laurence Darmiento, LOS ANGELES TIMES https://www.latimes.com/business/story/2024-04-24/consumer-advocates-insurance-industry-clash-at-homeowners-insurance-crisis-hearing The fault lines running through California’s spiraling homeowners insurance crisis were on display Tuesday at a state hearing, where consumer advocates clashed with industry firms over a plan to allow insurers to use...

By Terry Gangcuangco, INSURANCE BUSINESS https://www.insurancebusinessmag.com/us/news/catastrophe/consumer-watchdog-on-what-will-not-solve-californias-insurance-crisis-486434.aspx Consumer Watchdog has expressed strong opposition against Insurance Commissioner Ricardo Lara’s proposed changes in California. In the consumer advocate’s view, letting insurers use private black-box models and artificial intelligence in predicting the risk of catastrophic wildfires will...

By Staff Reporters, KPBS-FM – San Diego, CA  Click below to listen to the audio of this radio broadcast segment.

By Stephen Hobbs, SACRAMENTO BEE https://www.sacbee.com/news/politics-government/capitol-alert/article286759155.html In 2022, state Insurance Commissioner Ricardo Lara announced he would force companies to offer discounts to people who take specific steps to protect their homes from wildfires. It was part of an effort, he...

Group urges the insurance commissioner to hold companies accountable By Kenneth Araullo, INSURANCE BUSINESS https://www.insurancebusinessmag.com/us/news/environmental/watchdog-reiterates-call-for-fossil-fuel-disclosure-from-insurers-484613.aspx Consumer Watchdog has called for Insurance Commissioner Ricardo Lara to enforce transparency from insurance companies regarding their insurance of fossil fuel projects, aligning with the broader climate...

https://www.youtube.com/watch?v=H80Vy9FObt8 Last month, State Farm Insurance announced it would be dropping thousands of California policies beginning this summer, nearly a year after announcing it would no longer accept homeowner insurance applications in the Golden State.