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California non-renewals down 10% but wildfire-prone areas most challenging
Insurer of last resort the FAIR Plan covered the gap.
New Mexico AG intervenes in California Insurance Company redomestication dispute
The California Department of Insurance has attempted to block CIC’s redomestication to New Mexico.
More insurers refusing cover as California wildfires rage
As three California wildfires continue to ravage California, destroying more than 7,000 structures and displacing hundreds of thousands of people, more insurers are refusing cover, according to local press reports.
California wildfire insurance losses rise to $11.4 billion
Insured losses from the November 2018 wildfires in California have been re-evaluated upwards to $11.4 billion, representing a 25 percent hike from initial figures reported by the US government’s Department of Insurance.
Largest ever wildfire in California officially contained
The Mendocino Complex Fire, the largest wildfire in California's history, is now 100 percent contained, according to an official statement by California’s insurance commissioner Dave Jones.
Carr, Mendocino fire claims top $845m
California’s Carr and Mendocino complex fires’ claims top $845 million and are now counted among the most destructive wildfires in the state's history, according to California’s Insurance Commissioner Dave Jones.
California forces property insurers to offer cover in danger zone
California is set to prohibit insurers to cancel or refuse to renew a policy based solely on the fact that the insured structure is located in the area of a declared state of emergency and forces insurers to hand over fire-related data to authorities.
California wildfires set to impact insurers in Q3
The California wildfires could noticeably impact exposed insurers' third quarter 2018 earnings results, according to Keefe, Bruyette & Woods (KBW) analysts.
Insurance agents arrested in $1.9m scam in California
A joint investigation by the California Department of Insurance and US Immigration and Customs Enforcement's Homeland Security Investigations has resulted in an alleged $1.9 million scam where the suspects submitted fraudulent life insurance applications to take advance commissions from insurance companies.
Access Insurance Company ordered to stop business in California
California’s insurance commissioner has issued a Cease and Desist Order against Access Insurance Company, which requires the company to immediately stop transacting, soliciting, negotiating, or administering and writing any new or renewal insurance business of any kind in the state of California.
