State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, ...
The New York Times27d
California’s Insurance System Faces Crucial Test as Losses Mount
“None of this is going to make the California market more attractive ... needs approval from the state insurance commissioner to increase premiums. Mr. Dorsey, the FAIR Plan spokesman ...
State Farm seeks an emergency insurance rate increase after LA wildfires. It’s the latest blow to California’s housing market
State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for ...
California Wildfires Push Insurance Crisis to 'New Level'
As the scope of the losses caused by the Los Angeles wildfires unfolds, experts say the blazes are likely to bring higher premiums and more coverage cuts.
ABC7 San Francisco25d
What happens if CA FAIR Plan goes bankrupt? Here's how it could affect policyholders
"Why should people in San Francisco pay for a fire that was insured by a consortium of insurance companies ... to look like." The California FAIR Plan has seen an increase in demand since 2019 ...
California's 'Regulatory Failure' Blamed for Wildfire Insurance Disaster
The California insurance crisis laid bare by the Los Angeles fires was fueled by "regulatory failure," economist Nancy ...
State Farm asks for emergency statewide home insurance rate increase
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The LA fires have a shocking price tag — and we’ll all have to pick up the tab
As the region starts to recover, low-income residents will have the hardest time returning to normal, if they return at all.
Silicon Valley on MSN5d
State Farm seeks 22% rate hike for California homeowners to cover La wildfire losses
State Farm, the largest insurance company in California, has asked state regulators to immediately approve a steep rate hike ...
State farm was all in on California—until it pulled the plug before the fires
Insurer aggressively grew in Los Angeles, despite getting overweight on fire risk, but decided to cut thousands of policies last year, adding to the state’s home-insurance crisis.
CNN3d
Allstate expects $1.1 billion loss from California fires
Allstate Insurance says it will pay out ... with the fires as justification for rate increase requests. For example, the California FAIR plan — the state-created insurer of last resort for ...
CNN7d
State Farm seeks an emergency insurance rate increase after LA wildfires. It’s the latest blow to California’s housing market
State Farm said the emergency interim rate hike was necessary to “help avert a dire situation for our customers and the insurance market ... insurance plan, called the California FAIR plan ...