California

Several insurance and wildfire-related bills were signed into law October 10, including authorization for bonds to finance California's insurer of last resort.

Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow.

California governor's executive order tasks insurance regulator and other state agencies to make recommendations on mitigating wildfires, insurance affordability and availability, expediting insurance claims and more.

California insurance commissioner Ricardo Lara proposes stricter standards for Consumer Watchdog's compensation in representing home insurance policyholders against insurers' rate increase proposals.

AB 226, still subject to governor's approval, allows likely $1 billion of borrowing to cope with strains on the state's insurer of last resort.

New law, SB 429, California Wildfire Public Catastrophe Model Act, depends on the state's university system and its resources to check insurers' and regulators' risk modeling.

The home insurer's objections to an in-person public hearing with regulators are dismissed by a California administrative judge, along with efforts to separate and postpone wildfire claim handling complaints from the rate hearings.

California Sen. Dave Cortese proposed the bill as the state grapples with a shortage of affordable housing.

California's insurer of last resort faces regulatory orders and court fights over its funding and claims handling. The following articles track developments concerning the FAIR Plan in recent months.

Insurance industry advisors and groups say the INSURE Act proposal for a catastrophic reinsurance program won't solve rising prices and coverage crisis.