OKs

California Insurance Commissioner Provisionally OKs State Farm’s 22% Rate Request – Go Health Pro

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California Insurance Commissioner Provisionally OKs State Farm’s 22% Rate Request – Go Health Pro

California Insurance Commissioner Ricardo Lara provisionally approved State Farm’s request for a 22% interim homeowners insurance rate hike, the California Department of Insurance announced on Friday. The approval depends on whether the company can justify the rate increase with data during a public hearing scheduled for April 8. In a statement, State Farm said, “It’s … Read more

Insurance Commissioner OKs FAIR Plan Request for $1B Assessment for LA Wildfires – Go Health Pro

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Insurance Commissioner OKs FAIR Plan Request for B Assessment for LA Wildfires – Go Health Pro

California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR Plan reported it has paid more than $914 million to policyholders, including advance payments, to cover claims related to the Palisades and Eaton fires. As … Read more