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In its latest rate filing available on the Department of Insurance website, State Farm General Insurance Co. (the insurer's California homeowners' company) explained that, despite being granted a ...
From 2012 to 2021, home insurers in California lost money on underwriting and insurance transactions, while nationwide average profit margins on those deals were 3.6% to 4.2%, respectively.
California Gov. Gavin Newsom has proposed urgency legislation to expedite the hiking of homeowner insurance rates. It's about time. Because the alternative for many is no insurance at all.
(The Center Square) - California homeowners may face noticeable insurance rate hikes under new rules finalized by state regulators that allow property insurers to use complex climate algorithms ...
The California Department of Consumer Affairs (DCA) is a department within the California Business, Consumer Services, and Housing Agency. DCA's stated mission is to serve the interests of California's consumers by ensuring a standard of professionalism in key industries and promoting informed consumer practices.
Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
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