State Farm Still Wants a 30% Rate Increase in California
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...
Tagged: L.A. wildfires
Edison Plans $6.2 Billion Fire-Prevention Plan After LA Blazes
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...
Judge Recommends Approving 17% State Farm Rate Hike in California
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...
PG&E Misses 1Q Profit Estimates on Higher Expenses, LA Wildfire Worries Linger
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...
California FAIR Plan Stabilization Act Moving Through Legislature
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,...
State Farm Has Paid out $2.5 Billion for LA Wildfires
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...
California Insurance Commissioner Provisionally OK’s State Farm’s 22% Rate Request
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...
LA Mayor Removes Fire Chief in Fallout From Palisades Blaze
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...
California Insurance Commissioner Rejects State Farm’s 22% Rate Request
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...
California Wildfire Mitigation And Recovery Bill Package Introduced
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...