California News
California’s Failure to Comply With Trucker Rules is Costing $40.6M in Federal Funds
The Trump administration said on Wednesday it was withholding $40.6 million from California in federal transportation funding for failing to comply with truck driver English ...
Mercury Seeks 6.9% Rate Increase in Filing Based on New Cat Modeling Regulation
Mercury Insurance said it has submitted a filing based on California's new regulation enabling catastrophe modeling to be included as a factor in ratemaking. The filing is reportedly the first to use ...
State Farm Still Wants a 30% Rate Increase in California
State Farm isn't done seeking a rate increase in California, upping its request a week after getting the OK for a large rate hike to what the company had originally wanted before being rejected and ...
Safeco to Stop Writing New Condo and Renter Policies in California
Safeco, a Liberty subsidiary, is preparing to stop writing new condo and rental policies in California at the beginning of next year. Liberty stopped writing new condo or rental customers under its ...
California Commissioner Announces Regulation to Enable the Use of Modeling in Rates
California Insurance Commissioner Ricardo Lara on Friday announced what he's calling "first of its kind" catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a ...
‘Don’t Rock the Boat,’ Brokers Advise California’s Homeowners in Crisis
A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and more frequently unavailable coverage for their clients, a crisis ...
California Insurance Commissioner Cuts Workers Comp Rate
A new and decreased rate for workers compensation insurance has been adopted in California, according to Insurance Commissioner Ricardo Lara. The action lowers the annual benchmark rate from $1.41 to ...
Analysis Shows $7.7B in Losses From Extreme Heat Events in California
The cumulative cost of the seven heat events in California in the past decade amounted to $7.7 billion in losses, a new report shows. The analysis from California Insurance Commissioner Ricardo ...