Live Insurance News

California’s Insurance Dilemma Deepens Amid State Farm Rate Hike Drama

March 10, 2025March 10, 2025 Angela Linders

How a Video and a Rate Hike Request Could Reshape California’s Insurance Market State Farm is under fire after a Consumer Watchdog letter to California Insurance Commissioner Ricardo Lara put the spotlight on controversial tactics allegedly used to justify a proposed emergency 22% rate hike. At the heart of the controversy is a video recording of Haden Kirkpatrick, State Farm’s Vice President of Innovation and Venture Capital, whose candid comments stirred public concern and prompted his dismissal from the company. Captured on Camera: A Rare Glimpse Behind Closed Doors The…

State Farm Reverses Course, Offering Hope to Wildfire-Affected Homeowners

January 17, 2025 G. Turner

Thousands of Homeowners Find Relief Amid Uncertainty After devastating wildfires tore through Los Angeles County earlier this month, State Farm has announced a reversal in its policy cancellations, providing much-needed relief to thousands of California residents. Homeowners who feared losing their insurance coverage now have the option to renew their policies, a decision applying to those whose insurance was active as of January 7, 2025—the day the fires ignited. State Farm’s U-Turn in the Face of Crisis State Farm’s decision impacts approximately 1,100 policyholders in Pacific Palisades’ ZIP code 90272…

Insurance Companies Under Fire After Tyler Perry’s Viral Post

January 13, 2025January 13, 2025 Angela Linders

Tyler Perry’s Outrage Over Insurance Cancellations Hollywood mogul Tyler Perry recently expressed his frustration with home insurance companies canceling policies as Los Angeles battled catastrophic wildfires. His social media post highlighted what he described as “pure greed” from these insurers, pointing out the plight of homeowners left unprotected after faithfully paying premiums for years. Perry shared the heartbreaking story of a woman using a garden hose in a desperate attempt to save her 90-year-old parents’ home, which had lost its insurance coverage just before the fires. “Does anyone else find…

New Insurance Law in Louisiana Sparks Debate – Winners and Losers Revealed

January 2, 2025January 1, 2025 Marc

Major Insurance Law Reforms in Louisiana

Louisiana Implements Major Insurance Law Reforms for 2025 Louisiana is undergoing significant changes in its insurance landscape with the introduction of a new law that took effect on January 1, 2025. The legislation, signed by Governor Jeff Landry, repeals the unique “three-year rule,” which had long posed challenges for insurance companies operating in the state. This reform aims to make Louisiana a more competitive environment for insurers while sparking concerns among homeowners about protections. Repeal of the Three-Year Rule The three-year rule previously prevented insurance companies from canceling or non-renewing…

Travelers Insurance company sees catastrophe losses double

July 28, 2023July 28, 2023 Logan B.

Insurance company - Home insurance losses double

The insurer’s size often means that it is viewed as a reflection of what the industry is experiencing. Travelers Insurance company has announced that its catastrophe losses have doubled in its most recent quarter, and the insurer experienced a loss as severe wind and hailstorms struck several regions and brought on an increase in claims. Claims have been rising because of the impact of climate change on natural disasters. The rising frequency of claims relating to extreme weather, such as wildfires, hurricanes, hail and high winds are causing disruptions throughout…

Home insurance policies should be reviewed as holiday shopping begins

November 30, 2016November 28, 2016 Nordstrom

homeowners home insurance policies christmas holidays

Even before the Christmas tree goes up, coverage should be consulted to be sure it’s enough. The last thing a homeowner wants to do is to make a claim on home insurance policies over the holiday season. However, this coverage can play an integral role in putting things right if the worst should happen. The risks of peril and of loss usually spike over the holidays. Therefore, homeowners are being advised to make sure the coverage they have is enough for their needs. Burning candles, piles of gifts, icy sidewalks…

Does Home Insurance Cover Insect or Pest Damage?

June 2, 2013February 13, 2014 Guest Author

Most standard home insurance policies purchased today cover damages caused by storms, fire, and theft. It may be possible to find coverage for collateral damage caused by insects and other pests, but generally this type of protection is not available. The question of whether or not your home insurance covers insect or pest damage can be answered by first determining how the insurance company views this type of risk as an insurable event and the type of infestation problems you are experiencing in your home. The Purpose of Home Insurance…