Department of Insurance – Page 2

Asm. DeMaio to Introduce CA Insurance Reform and Rate Stabilization Initiative

February 13, 2025 12:26 pmFebruary 13, 2025 12:26 pm

The Globe has written many articles about California’s insurance crisis, and has published op-eds from insurance experts explaining how the state got into this mess, and what needs to be done. In June, former State Senator Ted Gaines reported on...

State Farm Seeks 22% Home Insurance Rate Increase After Wildfires

February 4, 2025 2:37 pmFebruary 4, 2025 2:37 pm

State Farm Insurance announced on Monday that they have asked the California Department of Insurance to approve an emergency interim rate increase for rental homes, non-rental homes, rental units, and condos to help pay for the massive increase of claims...

Systemic Mismanagement in California’s Insurance Sector

February 3, 2025 2:45 amFebruary 3, 2025 6:48 am

Insurance is the foundation of a robust financial strategy and is vital to securing a prosperous future for California. However, recent events, notably the wildfires in Los Angeles, have exposed severe systemic issues plaguing our state’s insurance industry. These issues...

Farmers Insurance to Increase Number Of Homeowner & Renter Policies in California

December 12, 2024 5:50 pmDecember 12, 2024 5:50 pm

In a surprise announcement on Wednesday, Farmers Insurance said that they will be going against the trend of insurance companies in California by increasing the number of renters and homeowners policies. For the past two years, insurance companies have been...

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...