Farmers Insurance has announced a commitment to increase the number of new homeowner policies to 9,500 per month in California, recognizing improvements in the insurance market.
The California property insurance market has faced significant challenges following devastating wildfires, leading to hundreds of thousands losing coverage, particularly in high-risk areas.
In response to the demands of insurers, California regulators are set to adopt new regulations for faster rate hike approvals and rate increases based on climate change risks.
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