Department of Insurance – Page 2

California Insurance Crisis: Homeowners Getting Insured Right Out of Their Homes

September 17, 2024 7:11 amSeptember 17, 2024 3:55 pm

In the late 1970’s Californians were being taxed out of their homes. Grandmas could not pay the escalating property tax bills on long-held family homes, and defaulted or were forced to sell. Thus, Proposition 13 was passed by voters and...

Golden State Insurance Crisis: Californians Getting Insured Right Out of Their Homes

July 18, 2024 2:55 amJuly 18, 2024 6:56 pm

California is in the throes of a self-imposed insurance crisis. And the state doesn’t seem to be addressing this crisis with any sense of urgency. The Globe recently spoke with a couple who shared that the condominium complex in which...

Allstate Looks To Increase Home Insurance Premiums By 34%

July 12, 2024 4:13 pmJuly 12, 2024 4:13 pm

According to an insurance filing unveiled on Thursday, Allstate filed to raise California Insurance premiums in state by 34%, with the request currently remaining under review. For over a year, insurance companies have been slowly limiting policies, ending the allowance...

Weak Leadership is Failing California’s Insurance Market

July 3, 2024 3:45 pmJuly 3, 2024 3:45 pm

They say weak leaders make hard times. Under the leadership of Ricardo Lara, the California Department of Insurance is cracking under pressure. The California insurance market is at a breaking point, and Lara is missing in action. As reported by...

The Time for Action on Insurance Crisis is Now

June 4, 2024 3:15 amJune 4, 2024 1:21 pm

Californians need bold and immediate action from the Governor Gavin Newsom and Insurance Commissioner Ricardo Lara to help attract insurers back to the state, create a robust market, and give consumers more options for fire insurance coverage. Proposition 103, passed...

Climate Change Agenda: Media Hyping ‘Extreme Heat Warning’ When CA Temps are Not ‘Extreme’

June 3, 2024 2:45 amJune 3, 2024 6:36 am

For a week now most news outlets have issued dire warnings that California will be under an “extreme” heat wave this coming week. Fox News reported breathlessly Sunday evening that temperatures in California will reach as high as 120 degrees...

Tokio Marine Insurance, Mercury Insurance Agree To Customer Switchover For Thousands Of Policyholders

May 14, 2024 2:45 amMay 14, 2024 2:46 am

Thousands of California insurance-holders saw a rare moment of relief on Monday when the Mercury General insurance company announced that they would be working with both the Tokio Marine America Insurance Company and the Trans Pacific Insurance Company, who will...