Proposition 103 – Page 2 – California Globe

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...

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...