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
According to independent insurance-linked securities (ILS) investment manager Euler ILS Partners, the Los Angeles, California wildfires could have a significant impact on US pricing, especially if insurance industry losses were to exceed $30 billion.As we’ve been reporting, official reports state that over 17,000 structures have been damaged or destroyed by the wildfires, and the first … Read more
Catastrophe risk modelling specialist Karen Clark & Company (KCC) estimates that the insured loss (from privately insured and FAIR plan policies) to residential, commercial, and industrial properties, and autos from both the Palisades and Eaton wildfires in Los Angeles will sit close to $28 billion.KCC becomes the latest risk modeller to release an initial estimate … Read more
P-64, an adult male mountain lion, travels through a tunnel under Highway 101, heading south toward the Santa Monica Mountains in 2018. Credit: National Parks Service P-64, an adult male mountain lion, travels through a tunnel under Highway 101, heading south toward the Santa Monica Mountains in 2018. Credit: National Parks Service The cat traversed … Read more
Allstate is here to help Southern California customers. Customers can file their claim now: Allstate policyholders affected by the wildfires can file their claim through the Allstate® Mobile app, online, by calling 1-800-54-STORM, or their local agent. Home claims: Customers can use their mobile devices or desktops to share images or live video of their home damage with an … Read more
