Insurers are fleeing coastal states like Florida and California after floods and fires, and premiums are skyrocketing. More states face this climate crisis.
On Jan. 1, California will become the first state to offer health insurance to all undocumented adults by expanding access to the state-run insurance plan, Medi-Cal.
In fact, the California Association of Realtors’ 2023 Annual Housing Market Survey found that nearly 7 percent of real estate deals in the state fell out of escrow because buyers couldn’t find affordable insurance. Seven of California’s largest property insurers, State Farm, Allstate, Farmers, USAA, Travelers, Nationwide and Chubb recently limite ...
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State Farm is California's biggest car insurer. In all, the six largest insurers have received rate increases totaling more than $1 billion, Consumer Watchdog says.
the insurance industry. As more insurers have exited California's borders, the state's FAIR Plan Association, which was established for California homeowners who are not able to find...
Insurance is required on all vehicles operated or parked on California roads.
Insurance Commissioner Ricardo Lara said State Farm’s request to increase its rates raised “serious questions” about the company’s financial health.
State Farm, California’s largest insurer, announced that it will discontinue coverage for 72,000 homes and apartments starting this summer, a move likely to sharply inflate housing costs for affected residents in a state that’s reeling from a series of destructive recent wildfires. The Illinois-based insurance giant, which accounts for a fifth of the California home insurance market and is the largest property and auto insurer in the U.S., cited rising costs, increasing catastrophe risk and outdated regulations in declaring it won’t renew ...
The president of the California FAIR Plan said that one bad wildfire could overwhelm the plan’s resources. Subscribe to continue reading this article. Already subscribed? To login in...