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Top related persons:
— Heidi Lange - 1 “ - 1 ” - 1 Ricardo Lara - 1 Michael Soller - 1 Rex Frazier - 1 Carl Johnsen - 1 Johnsen doesn’t - 1
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FRANCISCO - 1 Fire - 1 Farmers Insurance - 1 State Farm - 1 Allstate - 1 California’s - 1 Insurance Department - 1 Paradise . Farmers Insurance - 1

Search resuls for: "Michael Soller"


3 mentions found


☆ How Are People Supposed to Rebuild Paradise, California, When Nobody Can Afford Home Insurance?
  + stars: | 2023-11-07 | by ( Associated Press | Nov. | At A.M. | ) www.usnews.com   time to read: +7 min
SAN FRANCISCO (AP) — Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. Residents have received annual premiums that near or exceed $10,000 — leaving many to wonder how they're supposed to rebuild their hard-hit community when insurance is so shockingly high for houses in an area that is supposed to be among the most affordable in California. Seven of the 12 top home-insurers in California — including Farmers Insurance, State Farm, Allstate — have paused or restricted new business in California, saying they can’t afford to take on new clients. Carl Johnsen, a retired drywall contractor, has lived in the same house since 1979, when he moved to Paradise. The Robinsons are paying $4,500 through the California Fair Access to Insurance Requirements Plan, and $750 with another insurer for supplemental liability coverage.
Persons: — Heidi Lange, “, ”, Ricardo Lara, Michael Soller, Rex Frazier, Carl Johnsen, Johnsen doesn’t, Gene Robinson, Robinson, Lara, Soller, Kathy Ehrhart, ” Lange Organizations: FRANCISCO, Fire, Farmers Insurance, State Farm, Allstate, California’s, Insurance Department, Paradise . Farmers Insurance, Farmers, “, Personal Insurance Federation of, Robinsons, FAIR Locations: California, Paradise, Personal Insurance Federation of California, Louisiana , Texas, Florida, Chicago
☆ State Farm will no longer offer new home insurance policies in California over wildfire concerns
  + stars: | 2023-05-29 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
State Farm said it won't accept new applications for business and personal lines of property and casualty insurance in California. The change won't impact those with personal auto insurance, and current property and casualty insurance holders can still file claims for property that's already covered by State Farm. "Insurance companies prioritize their short-term financial goals, the long-term goal of the Department of Insurance is protecting consumers," California Department of Insurance spokesperson Michael Soller told CNN. Soller continued: "It's important to note that current State Farm customers are not affected, and no non-renewals are being issued as a result of this announcement." "We pledge to work constructively with the CDI and policymakers to help build market capacity in California," Friday's statement from State Farm said.
☆ State Farm stops home insurance sales in California, citing wildfire risks
  + stars: | 2023-05-28 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
New York CNN —State Farm is stopping new home insurance sales in California, citing wildfire risks and skyrocketing construction costs, the company announced Friday. The insurance giant stopped accepting applications for all business and personal lines property and casualty insurance in California on May 27. “State Farm General Insurance Company made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market,” the company said in a statement. While “insurance companies prioritize their short-term financial goals, the long-term goal of the Department of Insurance is protecting consumers,” California Department of Insurance spokesperson Michael Soller said. “However, it’s necessary to take these actions now to improve the company’s financial strength,” State Farm said, adding it will reevaluate according to market conditions.
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