Proposition 103 – Page 2 – California Globe

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...

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...

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...

More Layoffs Coming in California’s Insurance Industry Without Reform

September 12, 2023 2:54 pmSeptember 12, 2023 2:54 pm

San Francisco might not be the only California colossus in a so-called “doom loop.” The property and casualty insurance market is experiencing a crisis of its own, and the consequences are dire for the entire state economy. Here’s one recent...

Homeowner Insurance Rate Hike Bill Passes Assembly

June 12, 2020 2:15 amJune 11, 2020 3:58 pm

On Monday, the state Assembly passed Assembly Bill 2167 , which would allow for a faster rate of increased insurance premiums, by a largely bipartisan margin 61 to 3. A bill born out of wildfires AB 2167, written by Assemblymen...