Insurance In The News

Ventura County Star – Insurance blackmail wins again in California

By Tom Elias, VENTURA COUNTY STAR It would have taken a rare combination of courage and toughness to solve California’s three-month property insurance crisis fairly. Neither quality was displayed by either Gov. Gavin Newsom or Insurance Commissioner Ricardo Lara, and...

Ventura County Star – California Legislature whiffs on insurance crisis, punting to Newsom and Lara

By Dan Walters, VENTURA COUNTY STAR Before the California Legislature adjourned this month, it managed to fulfill most of wishes of majority Democrats' favorite interest groups, most notably labor unions. However, legislators left town without doing anything concrete about something...

The San Francisco Standard – California Just Announced a New Insurance Strategy. Here’s Why It’s Controversial

By Matthew Kupfer, THE SAN FRANCISCO STANDARD It happened like clockwork.  On Thursday, Gov. Gavin Newsom issued an executive order calling for swift action to expand insurance coverage options for consumers. Hours later, California Insurance Commissioner Ricardo Lara outlined what he...

The Real Deal – California announces changes to home insurance market to address wildfire coverage

Wildfires have prompted some insurance companies to cease writing new policies By TRD Staff, THE REAL DEAL In a bid to bolster wildfire coverage in the face of increasing natural disasters, California is set to revamp its home insurance market...

SDMetro – Lara’s quid pro quo: To increase their premiums, insurance companies must write more policies in wildfire zones

By Douglas Page, SD METRO While Insurance Commissioner Ricardo Lara says his plan – to make California a better market financially for major home insurance providers by December 2024 – there’s a chance, says one state government official, it...

San Francisco Examiner – Could California insurance market update cost homeowners?

By Natalie Gurevich, SAN FRANCISCO EXAMINER California Gov. Gavin Newsom announced massive changes to the state's home insurance market on Thursday, just weeks after a consumer advocacy group accused providers of conspiring to drive up rates. The move comes after...

KNBC-LA (NBC) – Los Angeles, CAL: CA To Consider New Rules For Property Insurance Pricing

Jamie Court of Consumer Watchdog says the new rules aren't necessary. Records show California is already more profitable for insurers than many states.

KPIX-SF (CBS) – San Francisco, CA: Insurance Overhaul

Insurance companies for the first time will be allowed to factor in the future risks of extreme weather and wildfires into the rates, that means your insurance rate is probably going up. Officials are willing to make us pay the insurance industry's ransom.

San Francisco Chronicle – California overhauls home insurance market after wildfire coverage losses. Here’s what that means

By Clare Fonstein, SAN FRANCISCO CHRONICLE California will overhaul its home insurance market in an effort to shore up wildfire coverage under new regulations announced Thursday.  In recent years as natural disasters have torn through the state, some insurance companies have stopped...

NBC Nightly News: Climate Change Driving Up Home Insurance

Harvey Rosenfield says the insurance companies are using climate change as an excuse to make changes in rules that have saved Californians hundreds of billions of dollars in the last 35 years.

KCAL-LA – Los Angeles, CA: Insurance for High Risk Areas

New insurance deal will mean that California homeowners pay hundreds or possibly thousands of dollars more every year for homeowners insurance.

Associated Press – Wildfire-prone California to consider new rules for property insurance pricing

By Adam Beam, ASSOCIATED PRESS SACRAMENTO, Calif. (AP) — A new plan from California's insurance commissioner aims to stop the nation's top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices. Unlike most...

KTLA-LA (CW) – Los Angeles, CA: Insurance Companies Offering Coverage In CA Fire Zones Again

Consumer watchdog says the deal could lead to extremely high increases in people's insurance bills.

The Free Press – Crime, Inflation Driving Up Auto Insurance Costs For Average Americans

THE FREE PRESS Auto insurance costs have surged in 2023, with companies raising rates to account for increased costs related to more accidents, higher incidents of theft and higher car prices and repair costs. August saw a 19.1% increase year-over-year...

East Bay Times – Newsom throws support behind California home insurance overhaul with order that could speed rate hikes

By John Woolfolk, EAST BAY TIMES,wildfires%20fueled%20by%20climate%20change. Gov. Gavin Newsom leaned into California's home insurance market meltdown with an executive order Thursday urging the state's elected commissioner to speed approval of rate increases and let insurers base requested hikes on...

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