It looks like California’s largest homeowners insurer is getting a large rate increase following billions of dollars in losses from the Los Angeles wildfires and pullback on writing new policies in the state. Administrative Law Judge Karl Seligman recommended approval of State Farm interim rate hike on Monday. California Insurance Commissioner Ricardo Lara still must … Read more
State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners. The carrier, the state’s top homeowners insurer, is partly blaming the devastating Los Angeles wildfires for the request. “As of February 1st, State Farm General (Fire only) has received more … Read more
Florida’s insurance coverage commissioner in early August famous that price will increase by property-casualty insurers within the state have slowed considerably since 2023 legislative reforms have been enacted, with 12 carriers asking for a small lower this yr and one other two dozen submitting for a zero price improve. RLI Insurance coverage, a specialty insurer … Read more