The FAIR Plan is an insurance pool that provides policies to people who can't get private insurance because their properties are deemed too risky to insure. The number of homeowners forced onto the FAIR Plan has skyrocketed. With high premiums and basic coverage, the plan is designed as a temporary option until homeowners can find permanent coverage. But more Californians are relying on it than ever as increasingly devastating and destructive fires spark across the state, including in densely populated areas.
New rules for insurance company owners that are now out of state regulators' reach. An emergency relief fund to help low-income homeowners pay for insurance. A national risk pool to spread insurance costs across several states. Those are some of the ideas - some new, some brought back - that Florida's Democratic senators are pushing to ease the high costs of property insurance costs for homeowners and renters in the state.
A leading consumer group is proposing a policyholder rights initiative that would require insurers to offer coverage to California homeowners who fireproof their homes - or lose the right to sell home or auto insurance in the state for five years. The Insurance Policyholder Bill of Rights was filed with state Atty. Gen. Rob Bonta's office last week by Consumer Watchdog, the Los Angeles advocacy group whose founder Harvey Rosenfield authored Proposition 103, the 1988 initiative that governs California insurance law.
The CEO of the California High Speed Rail Authority is optimistic about advancing rail extensions to Los Angeles and the Bay Area while developing the Central Valley segment.
Many brokers now charge a fee based on a percentage of the cost of the policy. This is inherently unfair to consumers as the 'worse' the premium they secure for them, the more money they will make.
The Injuries Resolution Board has called on the Government to consider changing the law to allow it to sanction the paying of legal fees, which would avoid costly legal bills.
