homeowners insurance crisis – California Globe

Allstate To Raise California’s Car Insurance Costs By 30%

February 15, 2024 12:57 pmFebruary 15, 2024 12:57 pm

Illinois-based insurance provider Allstate announced on Wednesday that car insurance prices in California would be going up by an average of 30%, becoming the latest such insurance company to significantly raise auto insurance rates in the state. Major insurance changes...

Ins. Commissioner Lara, Gov. Newsom Announce Sweeping New State Insurance Plan

September 22, 2023 12:11 pmSeptember 22, 2023 12:12 pm

Insurance Commissioner Ricardo Lara and Governor Gavin Newsom announced major insurance changes late on Thursday designed to improve insurance choices and keep plans affordable amidst numerous insurance companies recently saying that they would either take no new home insurance policies...

Largest U.S. Insurance Companies Now Claim ‘Climate Change’ is Behind Ending Coverage

September 5, 2023 7:53 amSeptember 6, 2023 6:58 am

Some of the country’s largest insurers have told industry regulators that “extreme weather patterns caused by climate change” is behind the decision to stop writing certain coverages in some regions, as well as excluding protections from various weather events and...

Farmers Insurance Lays Off 2,400 Workers In Latest Insurance Company Flight From California

August 29, 2023 6:57 pmAugust 29, 2023 6:57 pm

Farmers Insurance Group, the Los Angeles-based insurer group of vehicles, homes and small businesses, announced this week that they will be laying off 2,400 workers, largely because of large increases in construction and reconstruction costs, inflation, and a largely increased...

CA Senate Republicans Send Letter To Insurance Commissioner Lara Over Faltering Homeowners Insurance Market

August 25, 2023 2:30 amAugust 25, 2023 2:31 am

California State Senators delivered a letter to California Insurance Commissioner Ricardo Lara on Thursday, urging him to take more direct action in fixing the state’s faltering homeowners insurance market. In the past three months, 5 insurance companies operating in California...