California's $1 billion LA wildfire bill highlights insurers' struggle, analysts say
California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-created safety net program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly,
California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on to customers.
California’s insurer of last resort runs out of money to pay L.A. fire claims
In the aftermath of the Los Angeles fires, the FAIR plan gets a $1 billion bailout — the latest indication that California’s home insurance market is on shaky footing.
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
California Insurance Commissioner calls on insurance companies to bail out FAIR Plan
As California grapples with a home insurance crisis, Insurance Commissioner Ricardo Lara is taking action he says will save California's insurance program of last resort, known as the FAIR Plan.
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners will likely be on the hook for helping bail out California’s insurer of last resort to the tune of $1 billion after it ran out of money to pay claims from the devastating Los Angeles wildfires.
California homeowners will have to fund half of high-risk insurer’s $1 billion ‘bailout’
The plan will impose a special charge on homeowners and insurance companies to cover $1 billion in L.A. wildfire costs
California FAIR Plan is running out of money; nearly all homeowners to help bail it out
The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its own. Instead, it will turn to private insurers for help — triggering a process where insured California homeowners across the state will end up paying part of the bill.
California Gov. Gavin Newsom signs bills to defend immigrants and sue President Donald Trump
While Republicans wanted the legislation to say that state funds to defend immigrants shouldn’t be used on those with serious ...
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Two New California Bills Are Aiming to Lower Your Prescription Drug Costs
Sen. Scott Wiener (D-San Francisco) has introduced two bills in the State Senate that could lower prescription drug prices ...
California lawmakers introduce bill package to crack down on out-of-state puppy mills
Good morning and welcome to the A.M. Alert! CALIFORNIA LAWMAKERS WANT TO CRACK DOWN ON PUPPY MILLS Via Kate Wolffe... Democratic lawmakers were flanked by (adoptable!) puppies as they announced new ...
Bill would strengthen looting laws in California during fires and other emergencies
Assemblymember Jacqui Irwin coauthored proposed legislation that aims to strengthen laws on looting, other matters during fires and other emergencies.
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California lawmaker reintroduces bill to cut taxes on IRA benefits
Renewable energy developers are trying again to change the state tax code to get the full benefit of Inflation Reduction Act ...
California recycled water rules to be loosened under new state Senate bill
With California's often tenuous water supply continually a topic of debate, a state Senate bill would ease restrictions on ...
California governor signs 2 ‘Trump-proofing’ bills a day after returning from DC trip
After a trip to meet with President Donald Trump, Gov. Gavin Newsom signed bills to curb the White House’s efforts targeting ...
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California homeowners to face new fees to keep fallback insurance plan solvent
After saying it would run out of funds by March, California’s last-resort fire insurance provider will impose a special ...
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California bill aims to stop AI from posing as health professionals
California Assemblymember Mia Bonta, D-Oakland, introduced legislation Feb. 10 aimed at curbing the misuse of AI in healthcare. The bill, AB 489, would allow regulators to enforce title protections ...
California fire insurer of last resort to be bailed out by assessments on other insurers
California's state-supervised fire insurance provider of last resort received approval to levy a $1 billion assessment on ...
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California mulls new domestic violence protections for when an abuser exits prison
Domestic violence survivors sometimes lack protections when a convicted abuser is released from prison. A proposal by a San ...
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California Democrats clash over how to rein in drug industry middlemen
A bill that would subject pharmacy benefit managers to licensing by the state Department of Insurance faces a hurdle: Gov.