January 18, 2019
The National Association of Insurance Commissioners (NAIC) recently named 34 consumer liaison representatives for 2019.
Established in 1992, the Consumer Liaison Program promotes consumer interaction with state insurance regulators at meetings and throughout the year.
The 20 funded and 14 unfunded consumer representatives began their terms Jan. 1. NAIC-funded representatives are those who are...
January 13, 2019
Stacie and Jad Elkhoury avoided tragedy two years ago when flames from the Nuns wildfire stopped just short of their home southeast of Sonoma. The house did suffer some smoke damage to upholstery and rugs, for which they filed a claim with their insurance company, Nationwide, for reimbursement.
However, a few weeks ago, the Elkhourys were notified by a different insurer the coverage on their...
January 2, 2019
BOULDER — A few months after Chris Cook and his family moved from California into a four-bedroom house nestled among ponderosa pines in the foothills here, they received a letter saying their home insurance policy had been canceled.
The insurer, Allstate, had concluded — after an assessor visited the property — that the house was too likely to be destroyed by a wildfire. Cook, a tech...
December 28, 2018
Some 40,000 homes could be left "unsold" for each month the government shutdown lasts, according to the National Association of Realtors (NAR). And in its latest monthly housing report, the NAR predicted "slower economic growth" if employees of the Federal Emergency Management Agency (FEMA) remain off the job, unable to approve the flood insurance that can be key to home sales.
December 26, 2018
Former Paradise, California, resident Barb West used to view insurance the way most homeowners do.
“Who loses everything?” asked West, 64. Her husband, Roy West, is a building contractor, and she said that probably added to her false sense of security.
“If a tree came through, he could fix it. If the laundry room caught on fire, he could fix it.”
The Wests, who live in Bend now, were among...
December 17, 2018
As the North Bay welcomed 2018, it was clear to survivors of October 2017’s wildfires that much of the year would involve dealing with post-fires insurance claims, which reached $9.5 billion, according to state Insurance Commissioner Dave Jones.
And after another season of historic fires in 2018, the impact of the fires from both years began to touch those whose homes were not burned. Some...
December 17, 2018
As owners of the nearly 18,000 properties destroyed by California’s recent wildfires begin to file insurance claims, many of them will likely find they do not have enough insurance to cover the cost of rebuilding.
Surveys from the research firm Marshall & Swift/Boeckh have found about 60 percent of homeowners nationwide are underinsured by approximately 17 percent of the cost of their home....
December 13, 2018
Homeowners in wildfire-prone areas of California and other Western states now have yet another worry: Insurers have issued an ominous warning that they could be facing a "wildfire deductible" in coming years or, even worse, the prospect of having their home insurance canceled altogether.
The surprising scenario came in part from Aon, the largest insurance broker in the U.S., where...
December 12, 2018
Millions of dollars in potential losses from the Camp Fire have ruined a small Merced County insurance company, providing another element of uncertainty for homeowners following the deadliest and most destructive wildfire in California’s history.
A judge declared Merced Property & Casualty Co. of Atwater insolvent during a brief court hearing Monday afternoon in Merced County Superior Court...
December 12, 2018
Insurance costs already rival last year’s nearly $12 billion in losses from wildfires
This year’s wildfire season is already California’s deadliest and most destructive. On Wednesday, state Insurance Commissioner Dave Jones said it is also among the costliest in private property losses with claims totaling nearly $10 billion.
The staggering figures come only a year after Californians...