Daily P&C Insurance Agent News
- December 6, 2025
- Tony Veteto
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Daily Property & Casualty Insurance News – California
Curated headlines and insights for P&C insurance professionals with a focus on the California market.
California Property & Casualty Highlights
Home Insurance
Farmers Eliminates Cap on New Homeowners Policies in California
Realtor.com | October 31, 2025
Farmers Insurance will remove its cap on the number of new homeowners policies it writes in California, signaling a renewed appetite for the state’s wildfire‑exposed property market.[1] The move is expected to increase competition, expand options for homeowners currently relying on the FAIR Plan, and pressure other carriers to re‑enter or grow in distressed areas.[1]
Residual Market / FAIR Plan
Commissioner Lara Advances Major FAIR Plan Reforms and Coverage Expansion
California Department of Insurance | July 10, 2025
Insurance Commissioner Ricardo Lara announced a package of FAIR Plan reforms, including temporary expanded coverage for high‑value commercial risks, HOAs, and affordable housing, as part of his Sustainable Insurance Strategy.[2] The reforms seek to curb long‑term growth of the FAIR Plan by requiring insurers that use catastrophe models or reinsurance costs in rates to write business in wildfire‑distressed areas.[2]
Catastrophe / Wildfire
Southern California Wildfires Drive Massive Property Losses in Early 2025
IMA Financial Group | Q1 2025
IMA reports that early‑2025 wildfires in Southern California could generate total property and capital losses of up to $164 billion, with insured losses around $75 billion.[3] The events highlight escalating wildfire severity and continue to pressure property pricing, capacity, and underwriting standards across the California P&C market.[3]
Regulation & Rates
California Insurance Commissioner Seeks Changes to Landmark Rate‑Review Law
Los Angeles Times | October 13, 2025
Commissioner Ricardo Lara has proposed tighter rules on how consumer advocacy groups are funded when they challenge insurer rate filings under Proposition 103, sparking pushback from Consumer Watchdog.[4] Industry groups argue the revisions are routine billing standards, while critics say they could chill oversight of property and casualty rate increases in California.[4]
Home Insurance / Affordability
Study: California Home Insurance Costs Sit Near Middle Nationally Despite Rate Hikes
InsuranceNewsNet | September 12, 2025
A new analysis finds that, even after recent premium increases and carrier pullbacks, average California homeowners insurance costs remain roughly in the middle of the pack compared with other states.[8] Consumer advocates warn, however, that ongoing regulatory changes and insurer reforms could drive substantially higher rates, particularly in high‑risk wildfire regions.[8]
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