{"id":9993,"date":"2023-08-24T16:53:08","date_gmt":"2023-08-24T23:53:08","guid":{"rendered":"https:\/\/sandiegonewsdesk.com\/?p=9993"},"modified":"2023-08-24T16:53:08","modified_gmt":"2023-08-24T23:53:08","slug":"california-senate-republicans-urge-insurance-commissioner-lara-to-address-growing-homeowners-insurance-crisis","status":"publish","type":"post","link":"https:\/\/sandiegonewsdesk.com\/?p=9993","title":{"rendered":"California Senate Republicans Urge Insurance Commissioner Lara to Address Growing Homeowners\u2019 Insurance Crisis"},"content":{"rendered":"

SACRAMENTO\u00a0\u2013 Today,\u00a0California Senate Republicans<\/a>\u00a0delivered an\u00a0urgent letter<\/a>\u00a0to Insurance Commission Ricardo Lara requesting that he take action to fix the state\u2019s broken homeowners\u2019 insurance market. Commissioner Lara is responsible for regulating the industry. Over the past year, three major insurance companies have exited the state, and since then, two smaller companies also have announced they will soon follow suit. California Senate Republicans expect more insurance companies will flee, unless Insurance Commissioner Lara takes immediate action.<\/p>\n

 <\/p>\n

\u201cCalifornia needs a healthy and stable homeowners\u2019 insurance market that is accessible to all,\u201d said\u00a0Senate Minority Leader Brian W. Jones\u00a0(R-San Diego). \u201cOur current market is on the brink of collapse and Californians are struggling to find and purchase affordable homeowners\u2019 insurance. While the Legislature has failed to act, Insurance Commissioner Lara has the power to begin solving these problems under his current authority and we stand ready to work with him to fix this broken market.\u201d<\/p>\n

 <\/p>\n

Most recently this summer,\u00a0three of California\u2019s largest homeowner insurers<\/a>\u00a0\u2013\u00a0Allstate<\/a>, Farmers, and State Farm \u2013 announced they have stopped writing new policies to homeowners. This announcement was an immediate red flag, alerting everyone to the growing risk that our homeowners\u2019 insurance market is on the edge of crisis and may collapse unless drastic actions are taken to modernize it and prevent complete failure. Such a collapse would hurt California homeowners, and aspiring homeowners, the most.<\/p>\n

 <\/p>\n

Last week,\u00a0two other home insurers<\/a>\u00a0not only announced they are no longer offering new policies for Californians, but they also are not renewing existing policies.<\/p>\n

 <\/p>\n

\u201cMy constituents are already suffering,\u201d said\u00a0Senator Brian Dahle (R-Bieber)\u00a0who represents much of the state\u2019s communities that fall in high-fire severity zones. \u201cIn order to avoid exponential and unaffordable rate hikes on Californians in the near future, we must act now. Californians can\u2019t afford for a catastrophic wildfire to collapse the market and leave those insured without the coverage they may need to rebuild.\u201d<\/p>\n

 <\/p>\n

In a letter dated August 24, 2023, California Senate Republicans urgently requested Insurance Commissioner Lara to take immediate action as it relates to ensuring a healthy insurance market. You can read the\u00a0entire letter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SACRAMENTO\u00a0\u2013 Today,\u00a0California Senate Republicans\u00a0delivered an\u00a0urgent letter\u00a0to Insurance Commission Ricardo Lara requesting that he take action to fix the state\u2019s broken homeowners\u2019 insurance market. Commissioner Lara is responsible for regulating the industry. Over the past year, three major insurance companies have exited the state, and since then, two smaller companies also have announced they will soon…<\/p>\n","protected":false},"author":3,"featured_media":9921,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-9993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"\nCalifornia Senate Republicans Urge Insurance Commissioner Lara to Address Growing Homeowners\u2019 Insurance Crisis - San Diego News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandiegonewsdesk.com\/?p=9993\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"California Senate Republicans Urge Insurance Commissioner Lara to Address Growing Homeowners\u2019 Insurance Crisis - San Diego News Desk\" \/>\n<meta property=\"og:description\" content=\"SACRAMENTO\u00a0\u2013 Today,\u00a0California Senate Republicans\u00a0delivered an\u00a0urgent letter\u00a0to Insurance Commission Ricardo Lara requesting that he take action to fix the state\u2019s broken homeowners\u2019 insurance market. 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