News
Fire-safe homes could reduce losses by one-third in LA fire zones, study finds
5+ hour, 7+ min ago (306+ words) LOS ANGELES " Rebuilding homes to fire-safe standards in areas burned by the Eaton and Pacific Palisades fires could reduce insurance losses by about one-third, according to an analysis cited today by consumer advocates backing proposed state legislation. The analysis, released…...
California insurance commissioner candidates vow reform, fixes for FAIR Plan
3+ day, 7+ hour ago (685+ words) Top contenders in the state insurance commissioner's race squared off Friday, March 27 at a Pacific Palisades forum where they discussed wildfire risks and how they would reel in soaring premiums for homeowners in the aftermath of devastating California wildfires. For…...
Monthly cash payments could boost disaster survivors. A Maui nonprofit tries it out
1+ week, 4+ day ago (1230+ words) By GABRIELA AOUN ANGUEIRA Mari Younger cherished her life in West Maui. She worked hard at her career in the restaurant industry and was proudly self-sufficient, happily living in the same condo for 11 years, lovingly doting on her cat, Stella....
California bill would require insurance protections for fire-hardened homes
1+ mon, 1+ week ago (303+ words) A new state Senate bill aims to guarantee homeowners insurance protections for their wildfire-hardened homes. The safety standards include home-hardening upgrades " like sprinklers and closing off the eaves under a roof to prevent the collection of burning embers " and defensible…...
State lawmaker proposes mortgage forbearance extension for fire survivors
1+ mon, 2+ week ago (185+ words) Assemblymember John Harabedian has introduced a pair of bills to address mortgage forbearance for fire survivors. Here's what you need to know. State Assemblymember John Harabedian, D-Pasadena, announced this week a pair of legislative mortgage protections for fire survivors. First,…...
Wildfire insurance battles: California bills propose consumer-friendly regulations
2+ mon, 1+ week ago (738+ words) By Levi Sumagaysay | CalMatters Jen Egan is still dealing with the aftermath of the Palisades Fire that damaged the home of her 83-year-old father, Paul, last January. That has meant more than a year of going back and forth with…...
California insurance chief keeps ‘chin up’ ahead of FAIR Plan, policy reforms
2+ mon, 2+ week ago (1742+ words) A few weeks after California Insurance Commissioner Ricardo Lara rattled consumer groups with a proposed overhaul to the insurance-rate review process, the embattled state executive ended up at his parent's home in East Los Angeles to catch his breath away…...
Poorer Americans dropped federal flood insurance when rates rose
3+ mon, 1+ week ago (368+ words) By Leslie Kaufman | Bloomberg Most US homeowners insurance policies don't cover flood damage, and the federally subsidized NFIP accounts for nearly 90% of residential flood coverage. The program'was created in the 1960s to make flood insurance more accessible. But by charging premiums…...
How to avoid overpaying for escrow and title insurance
6+ mon, 5+ day ago (987+ words) If you want to make your home purchase just a little more affordable, focus on the transaction costs. You may not be able to do much about the home price because you and the seller must come to a mutual…...
California commissioner proposes insurance rule that critics call ‘revenge’
6+ mon, 6+ day ago (788+ words) By Levi Sumagaysay | CalMatters California Insurance Commissioner Ricardo Lara is proposing more new insurance rules that critics are calling "vindictive," and which they say will only make it easier for insurers to raise rates. Home insurance costs in California are…...