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...
Article 0 Comments Los Angeles Mayor Karen Bass removed Fire Chief Kristin Crowley, citing failures in the department’s response to the devastating Palisades wildfire. Bass appointed former LAFD Chief Deputy Ronnie Villanueva, a 41-year...
Article 0 Comments California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22% rate request from State Farm, instead calling a meeting with the carrier to get some answers about the carrier’s...
Article 1 Comment California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended focus...
Article 0 Comments Heavy rains caused flooding and mudslides in Los Angeles late Thursday and early Friday, as authorities ordered evacuations and warned of potentially dangerous conditions across land burned by last month’s devastating...
Article 0 Comments The parent company of Southern California Edison has been sued for allegedly defrauding shareholders before the recent Los Angeles-area wildfires by assuring them it could shut down power lines to reduce...
Article 0 Comments The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses and damages, credit ratings—and lately worrying...
