Article 0 Comments California Insurance Commissioner Ricardo Lara on Thursday said he has launched a formal investigation into State Farm’s handling of thousands of insurance claims from wildfire survivors affected by the Palisades and...
Article 0 Comments Following the “paradigm-shifting” Los Angeles wildfires in January, the 2024-2025 wildfire season will be remembered as a turning point for the insurance industry, and a warning that “wildfire is no longer...
Article 0 Comments Some homeowners who lost their homes in the Los Angeles wildfires have filed lawsuits against three large insurers over claims payouts they say didn’t cover their losses. The lawsuits were filed...
Article 1 Comment State Farm isn’t done seeking a rate increase in California, upping its request a week after getting the OK for a large rate hike to what the company had originally wanted...
Article 0 Comments Four months after devastating wildfires swept across Los Angeles, Edison International’s Southern California utility submitted a $6.2 billion mitigation plan that includes installing hundreds of miles of underground distribution lines, among...
Article 0 Comments It looks like California’s largest homeowners insurer is getting a large rate increase following billions of dollars in losses from the Los Angeles wildfires and pullback on writing new policies in...
Article 0 Comments PG&E Corp. missed first-quarter profit estimates on Thursday, as the power company was hurt by higher operating and interest expenses. Higher-for-longer interest rates push up borrowing costs for utility companies, which...
Article 0 Comments A bill that aims to enable the California FAIR Plan to seek additional claims paying capacity is making its way through state Legislature. Assembly Bill 226, the FAIR Plan Stabilization Act,...
Article 0 Comments State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve...
Article 0 Comments California Insurance Commissioner Ricardo Lara provisionally approved State Farm’s request for a 22% interim rate hike, the California Department of Insurance announced on Friday. The approval is on the provision that...
