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Insurance companies are in a unique and powerful position to influence behaviors.
State Farm currently holds around 8.7% of all home insurance policies in California.
Andreas Berger is succeeding Christian Mumenthaler, who is stepping down on July 1, 2024.
Whether a property is vacant or simply unoccupied makes a difference when coverage is involved.
Insurers across all lines wrote $960,802,932,489 in direct premiums in 2023, according to NAIC market share report.
This news comes on the heels of State Farm pulling back further from the California market.
Around 7% of all homeowners in the U.S. are uninsured, according to the Consumer Federation.
Next-generation wildfire data and risk models allow insurers to pinpoint localized wildfire risk and identify mitigation strategies to lower the propensity for loss.
John Oxendine admitted to his role in a health care kickback scheme that netted him hundreds of thousands of dollars.
In total, the company will not be renewing some 72,000 commercial and personal property policies in the state.