California Overhauls Insurance Rules to Rescue Struggling Home Coverage Market
• 1 min read
California implements major regulatory changes allowing insurers to use forward-looking catastrophe modeling for rate-setting, aiming to stabilize the troubled home insurance market. The reforms have already attracted major providers like Farmers Insurance back to the state, with more market activity expected by 2025.
State Farm Under Fire: Accusations of Profit Inflation Amid Rate Hike Request
• 1 min read
State Farm General faces allegations of boosting parent company profits through questionable reinsurance practices while seeking a 30% rate increase in California. Consumer Watchdog claims the insurer's actions are detrimental to policyholders.