There’s no law requiring California property owners to carry insurance, but the vast majority buy it to protect themselves from fire and other perils, or are required to do so by their mortgage lenders. There’s also no law requiring insurance companies to offer coverage in California, but most would prefer to do so in the nation’s most immense concentration of property needing protection. For decades, insuring California’s homes, farms and comme…

Tahoe Daily Tribune

Can new state regulations resolve California’s existential insurance crisis?

California Insurance Commissioner Ricardo Lara has approved regulations that next year will let insurers use complex computer programs that predict future risk in setting rates.

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Los Angeles Times

Patrick Soon-Shiong

Los Angeles

Los Angeles County

California

United States

California has sweeping new rules for home insurance. What to know

Insurance is complicated, with long lawyerly contracts and jargon by the ream. To the average policyholder, it’s as complex as rocket science. And that’s exactly what a new insurance company is bringing to California’s insurance crisis: some rocket science. “This will be a new way of buying insurance,” said Dan Preston, who just co-founded Stand insurance in San Francisco. “One half of the company is all really experienced talent from the bigges…

NBC Bay Area

Roberts family

HM Capital Partners

San Francisco

San Francisco County

Rockets to our rescue? New insurer uses physics to sell (not drop) home policies

The Entire Business World on a Single Page with the Web's Most Comprehensive One-Stop Finance News Hub.

BizToc

As wildfires get bigger and more destructive in California, more insurance companies are pulling out of the state—or sharply limiting the number of policies they’re willing to carry. But a new startup called Stand just launched with a deliberate focus on homes at risk of fire.Stand is “focused on properties that are exposed to climate-impacted risks,” says CEO and cofounder Dan Preston. The startup will eventually also include homes at risk of f…

Fast Company

Joe Mansueto

Insurers are fleeing California due to wildfires. But this startup plans to work with the riskiest homes

There’s no law requiring California property owners to carry insurance, but the vast majority buy it to protect themselves from fire and other perils, or are required to do so by their mortgage lenders. 
Dan Walters CalMatters Opinion  There’s also no law requiring insurance companies to offer coverage in California, but most would prefer to do so in the nation’s most immense concentration of property needing protection. For decades, insuring Ca…

GV Wire

Can New State Regs Resolve California's Property Insurance Crisis?

There’s no law requiring California property owners to carry insurance, but the vast majority buy it to protect themselves from fire and other perils, or are required to do so by their mortgage lenders. There’s also no law requiring insurance companies to offer coverage in California, but most would prefer to do so in the […]

Cal Matters

Sacramento

Sacramento County

California adopted a rule that aims to bolster access to home insurance in the state, after several major carriers retreated from the market amid growing risk of wildfires.

Digital Insurance

California lets insurers price climate risk, sparking cost fears

arcamax.com

California's plan to stabilize its home insurance market is now law. Will it work?

Farmers Insurance announced that it will increase the number of homeowner policies it will write for new California customers from 7,000 to 9,5000. The insurance company is the second largest home insurance provider in the state, and is one of the few major insurers to still be accepting new customers in California. This policy expansion […] The post LAist – With new homeowner policies, what will the future of CA home insurance look like? appear…

Can new state regulations resolve California’s existential insurance crisis?

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