California Governor Gavin Newsom is trying to stem the trend of property insurers leaving the state on the grounds of losses by speeding up how quickly they can raise rates. Newsom announced plans to craft a trailer law to expedite the work of state Insurance Commissioner Ricardo Lara during Friday’s briefing on May revisions … Read more
In the nearly 25 years that Ed Bratt has owned his home in Oakland, California, he has become accustomed to receiving notices that his homeowner’s insurance costs are rising. But in the last bill, he got news that really shocked him: his policy was scrapped. “So I received a letter from my insurer, the same … Read more
A California prosecutor is suing major auto insurers, including Progressive and the United Services Automobile Association (USAA), for allegedly colluding to undervalue “totaled” vehicles. In a lawsuit announced May 9, Alameda County District Attorney Pamela Price accused the insurance giants and their affiliated software developers of using appraisal software to systematically undervalue “totaled” vehicles and … Read more