Ricardo Lara’s successor will have a full plate. California insurance premiums are rising; fire survivors are struggling; the FAIR Plan is still growing.
insurance
Posted inPolitics & Policy
Fires burn swiftly, but insurance battles linger: New bills propose consumer-friendly regulations
As fire survivors continue to navigate life after disaster, California lawmakers roll out new bills attempting to further regulate insurance companies like State Farm.
Posted inLatest News
After CZU destroyed their home, their insurance soared more than 600%. A new proposal could push it even higher
Santa Cruz Mountains residents still recovering from the CZU wildfires face a new looming crisis as the FAIR Plan — California’s fire insurer of last resort — proposes rate increases as high as 50% for homeowners in some fire-prone areas. That has left many residents fearing they can no longer afford to stay.
Posted inLatest News
Some county homeowners face proposed insurance rate hikes up to 50% as FAIR Plan struggles with fire risk
Nearly 11,000 Santa Cruz County residents insured through California’s FAIR Plan could face average fire insurance rate hikes of nearly 36% starting in 2026 as part of a statewide proposal submitted to the Department of Insurance.
Posted inPolitics & Policy
Ricardo Lara proposes insurance rule that critics call ‘revenge’
California’s insurance commissioner has sparred with Consumer Watchdog, which says a proposed rule Ricardo Lara says will make the rate-review process more efficient is retaliatory.
Posted inSan Lorenzo Valley
Santa Cruz Mountains housing market is still popular post-CZU — but buyers face new difficulties
Despite the destruction the CZU fires brought to the Santa Cruz Mountains, prospective homebuyers continue to look in part due to better value for price. But anxious memories are making some think twice, while insurance uncertainty makes purchasing there a bigger gamble than before the fire.
Posted inPolitics & Policy
State Farm wins first-ever emergency rate hike in California
Insurance Commissioner Ricardo Lara’s unprecedented approval for State Farm in the wake of January’s ruinous fires in the Los Angeles area means the company can raise premiums in California next month.
Posted inBusiness & Technology
State Farm moves one step closer to emergency California rate hike
After a three day hearing this week, State Farm is one step closer to approval for a rate hike on its California customers.
Posted inPolitics & Policy
California lawmakers propose fixes for ‘insurance industry in shambles’
From pushing for oversight of the FAIR Plan to providing tax breaks for premiums, California lawmakers have put forward a number of bills to try to fix insurance market problems.
Posted inLatest News
Big homeowners insurance rate hike from State Farm shot down by California regulator
In the wake of the Los Angeles fires, State Farm asked for an “emergency” premium increase of 22% on average for California homeowners. On Friday, California Insurance Commissioner Ricardo Lara denied the request pending more information.
