California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on ...
California FAIR Plan gets $1 billion assessment to head off insolvency
It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
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Mercury General reports Q4 2024 results as it preps for California wildfire impact
The California Department of Insurance approved a 12% rate increase for Mercury General's California homeowners insurance ...
California seeks $1 billion from insurers to shore up FAIR Plan after LA fires
California Insurance Commissioner Ricardo Lara has requested $1 billion in additional funds from the commission's member insurers to shore up the state-backed FAIR Plan after wildfires ravaged swathes ...
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Potential $200bn catastrophe loss year in 2025 could recalibrate entire industry: Zaffino, AIG
With the recent California wildfires seen as likely to drive the second most costly first-quarter on record for the global ...
Earnings call transcript: AIG Q4 2024 sees EPS beat, stock dips
American International Group Inc. (NYSE:AIG) reported its fourth-quarter 2024 earnings, posting an earnings per share (EPS) of $1.30, slightly surpassing the forecast of $1.28. Revenue for the quarter ...
Homeowners insurance rates expected to increase this year
Higher cost of labour and materials, plus an increased risk of flooding or wildfires means homeowners can expect to pay more for insurance in 2025.
Should You Be Worried About the CFPB Halt?
Major CFPB cases are in limbo, including lawsuits against Capital One and Walmart. With fewer regulatory constraints, banks ...