Saturday, December 16, 2023

The path to "government property insurance"?!!-----The Wall Street Journal The Man at the Center of America’s Biggest Insurance Crisis - Jean Eaglesham

The Wall Street Journal The Man at the Center of America’s Biggest Insurance Crisis Story by Jean Eaglesham
  • When he campaigned to be California’s insurance commissioner, Ricardo Lara warned about the risk of climate change
  • Insurers agreed, so they tried to jack up rates and cut back on coverage.
"When Lara blocked their rate increases, insurers, including Allstate, State Farm and Farmers Insurance, stopped or restricted new home-insurance business. 
That put Lara in the middle of the biggest insurance crisis in the country...
Lara faces a make-or-break year as he races to woo back the insurers. 
  • His approach could influence other state regulators wrestling with their own insurance no-go areas...

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