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Insurer Payouts for LA Wildfires Top $12B California Insurance Commissioner Ricardo Lara (D) announced that insurers have now paid out over $12 billion in claims from the largest of the Los Angeles wildfires...
Google Weighs in on Social Media Age Verification Days after Utah passed a first-in-the-nation law ( SB 142 ) requiring app stores to verify the age of users, Google finally weighed in publicly on the...
On January 1, North Dakota became the first state in the U.S. to cover weight-loss drugs through the Affordable Care Act. The expanded coverage is part of the state’s first update to its essential...
OR Looks to Allow Striking Workers to Collect Unemployment A hotly debated bill ( SB 916 ) passed out of committee in Oregon’s Senate last week would allow striking workers in both the public and...
MT Targets Insurers’ Use of AI Montana’s House Committee on Business and Labor held a public hearing last week on a bill ( HB 556 ) that would regulate the use of artificial intelligence...
In response to the devastating wildfires in Los Angeles last month, California Insurance Commissioner Ricardo Lara (D) and several state lawmakers have proposed a 10-bill package of legislation aimed at improving disaster preparedness and assisting wildfire survivors.
The bills include the California Safe Homes Act, which would create a grant program to help residents buy fire-rated roofs and create non-ignition zones around their homes; the Business Insurance Protection Act, which would broaden the insurance commissioner’s authority to issue moratoriums on non-renewals and cancellations after emergency declarations to include businesses and other properties; and the Eliminate “The List” Act, which would make California the first state in the nation to require insurers to pay wildfire survivors 100% of their contents coverage limits without requiring them to submit an itemized list of everything they lost. (INSURANCE JOURNAL)
California Insurance Commissioner Ricardo Lara (D) approved a request from the state’s home insurance plan of last resort, the California FAIR Plan, for a $1 billion assessment on insurers doing business in the state to cover claims from the Los Angeles wildfires. The decision is likely to drive up insurance costs for California homeowners and could also drive more insurers out of the state. (INSURANCE JOURNAL, NEW YORK TIMES)
California Insurance Commissioner Ricardo Lara (D) declined a request from State Farm for a 22% emergency, interim rate increase, which the insurer said was partly due to the LA wildfires. Instead, Lara called a meeting with the insurer to get more information about its financial situation. (INSURANCE JOURNAL)
—Compiled by SNCJ Managing Editor KOREY CLARK
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