California bans insurance cancellation, non-renewals in LA areas affected by fires
The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.
California Homeowners Get New Protection From Insurance Cancellations
California Insurance Commissioner Ricardo Lara issued a one-year moratorium that protects homeowners' insurance if they live in the areas impacted by wildfires.
Insurance crisis looms in California as fires ravage communities
Insurance companies and rates haven’t kept up with increasingly catastrophic events like the California wildfires or hurricanes that recently hit Florida, Tennessee and North Carolina. It can put
The Insurance Crisis That Will Follow the California Fires
In 2019, the number of homeowners’ policies in California that were not renewed jumped by more than thirty per cent. In 2023, two giant insurers, State Farm and Allstate, announced that they would stop writing new policies for various forms of property insurance in California.
California official bans insurance cancellations, nonrenewals in wildfire-affected areas
California’s insurance commissioner issued a one-year moratorium on policy nonrenewals and cancellations in areas affected by devastating wildfires in and around Los Angeles. “I am using my moratorium powers to prevent insurance companies from canceling or non-renewing policies in wildfire-impacted areas,
How Los Angeles wildfires could affect California's home insurance market
State authorities previously listed the Palisades as one of the five Southern California areas with the highest concentration of potential wildfire risks. The community also is among the areas most impacted by an unavailability of insurance coverage.
California homeowners battle an 'insurance crisis' as wildfires burn out of control
The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.
California insurance crisis: List of carriers that have fled or reduced coverage in the state
California has been hit with an exodus of property insurance companies in recent years, and the state's ongoing wildfires threaten to make the problem worse.
California puts spotlight on ‘crisis point’ for wildfire insurance
The devastating wildfires around Los Angeles have put a spotlight on the impact of insurance companies pulling back coverage for climate related disasters. Last year, a major California insurer cancelled or wouldn’t approve 72,
Experts warn Colorado is on the verge of an insurance crisis similar to California's
Insurance experts say although California's wildfires may not directly impact Colorado's insurance premiums, the growing risk of such disasters will.
Will L.A. Wildfires Worsen California’s Property Insurance Crisis?
Key Takeaways The wildfires that have decimated neighborhoods in Los Angeles this week came just months after California's largest property insurer began allowing thousands of policies to lapse.Insurers,
Who Pays to Rebuild California When Insurance Falls Short? Everyone Else
Many Los Angeles-area residents devastated by fire will lean on Washington and charitable aid—and draw on their own savings.
California insurance commissioner issues 1-year moratorium to protect Southern California homeowners
The California insurance commissioner issued a mandatory one-year moratorium on non-renewals and cancellations to protect ...
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California overhauled its insurance system. Then Los Angeles caught fire.
The fires could cause more than $20 billion in damages, further straining the state’s fragile insurance market.
California insurance commissioner bans cancellations and non-renewals in LA fire areas
Insurance Commissioner Ricardo Lara said he's ordered insurance companies to have a one-year moratorium on insurance ...
California Fires Have Caused Billions of Dollars in Losses. Why Insurance Stocks Have a Brighter Future.
California Fires Have Caused Billions of Dollars in Losses. Why Insurance Stocks Have a Brighter Future. Watching Pacific ...
Insurance Company Stocks Fall as Damage Estimates from California Wildfires Rise
Key Takeaways Insurance company shares dropped as the massive wildfires in California are now estimated to have caused $135 ...