Insurance Hour

Decoding Catastrophe Models: Karl Susman's Testimony and What It Means for California's Insurance Future California's property insurance market stands at a crossroads. Wildfires, inflation, and regulatory gridlock have pushed many insurers to the brink, leading to policy non-renewals, coverage restrictions, and widespread consumer frustration. At the heart of the debate over how to fix this broken...

Navigating California's Insurance Crisis: How Surplus Lines Are Filling the Gap California's insurance market is in flux. With major carriers retreating, homeowners scrambling for coverage, and regulators rewriting decades-old rules, the industry finds itself at a critical turning point. In this episode of Insurance Hour , host Karl Susman sits down with Benjamin McKay , CEO and Executive Director...

Revolutionizing California Insurance: Understanding the Sustainable Insurance Strategy and Market Reforms California's insurance market is in turmoil. From homeowners unable to find coverage to insurers halting new business altogether, the state's property insurance system is facing what many call a "market collapse." But amid the chaos, California is now rolling out a sweeping reform package desi...

California's New Insurance Options: How State Reforms Aim to Protect Homeowners and Businesses in High-Risk Zones For years, California homeowners and business owners have faced an insurance nightmare — non-renewals, skyrocketing premiums, and shrinking coverage options, especially in wildfire-prone areas. But now, new measures from the California Department of Insurance (CDI) and the Governor's o...

Proposition 103: How a 1980s Reform Became California's Most Controversial Insurance Law When Californians passed Proposition 103 in 1988, they thought they were voting for lower insurance rates and greater accountability from an industry they believed was out of control. More than three decades later, the same law is now being blamed for strangling California's insurance market — slowing approval...

State Farm's Limited Return: What It Means for California Homeowners Facing Non-Renewals For months, California homeowners have faced a grim reality: major insurers pulling back from the state's market, skyrocketing premiums, and limited access to coverage in wildfire-prone regions. But there's finally a glimmer of good news. As CBS 8 (KFMB) reported, State Farm — which previously announced it wou...

California's Insurance Reform Explained: Governor Newsom's Trailer Bill and the Push to Stabilize a Shaken Market California's homeowners insurance market has been in crisis mode for years. Escalating wildfire risks, inflation, and outdated regulatory rules have driven major insurers to scale back or halt new business across the state. Now, with Governor Gavin Newsom's new "trailer bill" and Insur...

State Farm's Partial Return to California: Progress or PR? In a move that made headlines across California, State Farm — the state's largest home insurer — announced it will allow some homeowners to keep their coverage after dropping tens of thousands of policies earlier this year. At first glance, that sounds like welcome news for a state still deep in an insurance crisis. But as FOX KTVU's Baile...

California's Insurance Overhaul: Navigating New Reforms and Consumer Protections California's insurance market is in the midst of the most sweeping overhaul in decades. After years of mounting instability — insurers pulling back, homeowners facing non-renewals, and small businesses losing coverage — policymakers are finally taking bold action. At the heart of this transformation are Governor Gavin...

Governor Newsom's "Trailer Bill" Explained: A Short-Term Fix for California's Insurance Crisis California's insurance market has been in turmoil for years, with major carriers scaling back, pausing new business, or exiting the state altogether. The result has been a coverage crunch for homeowners and small businesses, especially in wildfire-prone areas. Now, under growing political pressure to act...

Navigating California's Homeowners Insurance Crisis: Expert Tips to Survive Soaring Costs If you live in California, you've probably noticed your homeowners insurance premium climbing faster than almost anything else — except maybe your property taxes or grocery bill. Since 2018, homeowners insurance rates have risen more than 43% statewide , and in some areas, the increases have been far worse. B...

Governor Newsom's New Home Insurance Plan: Will Speeding Up Rate Approvals Fix California's Market — or Make It Worse? California's long-broken insurance system is finally getting a major overhaul — but not everyone agrees it's the solution the state needs. In late May, FOX KTVU reported that Governor Gavin Newsom has unveiled a new plan designed to encourage insurance companies to return to Calif...

California's Small Business Insurance Crisis: When Wildfire Risk Meets Market Retreat California's insurance crisis isn't just hitting homeowners — it's threatening the survival of small businesses that form the backbone of local economies. From boutique inns to wineries, mom-and-pop shops to tourism operators, companies across the state are facing skyrocketing premiums or outright policy cancella...

How Insurance Really Works: Turning Your Premiums into Protection Insurance — it's one of those things everyone has, everyone pays for, but few people truly understand. Why do prices go up every year? How do insurance companies afford to pay huge claims when disasters strike? And where exactly does your money go once you've paid your premium? In a recent episode of Insurance Hour , host Karl Susma...

Navigating Legal Traps in Personal Injury Claims: Expert Advice from Attorney Dennis Beaver When you've been in an accident, your first instinct is often to call for help — an ambulance, the police, or your insurance company. But for many Californians, the next phone call is to a personal injury attorney, often one they've seen on TV or a billboard promising big settlements. In a recent Insurance...

Shaking Up the Insurance Industry: How Jumpstart's Parametric Earthquake Coverage Is Changing the Game When we think of earthquake insurance, most of us picture complicated claims, long waits, and uncertain payouts. But what if disaster recovery could be instant , transparent, and based on objective data — no adjusters, no paperwork, no gray areas? That's the revolutionary idea behind Jumpstart ,...

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Clarifying Coverage: Navigating the Complexities of Insurance with Karl Susman In an age where insurance headlines often center on cancellations, premium hikes, and disappearing carriers, one voice continues to remind Californians of something fundamental: insurance, at its core, is a contract of protection. In a recent episode of Insurance Hour , host and independent broker Karl Susman unpacked t...

Governor Newsom Pushes to Fast-Track California's Insurance Reforms California's insurance crisis has been building for years — and now, the state's top leaders are finally racing against the clock to fix it. As ABC 10 News Sacramento reported on May 13, 2024, Governor Gavin Newsom has announced a bold move to accelerate long-awaited insurance reforms — introducing what he calls a "trailer bill" t...

Governor Newsom Accelerates California's Home Insurance Reforms: What His "60-Day Plan" Means for Homeowners California's insurance market has been under pressure for years, but in early 2024, a surprising headline broke through the political noise: Governor Gavin Newsom is fast-tracking reform. During a budget press conference that mostly focused on fiscal policy, Newsom made unexpected — and enc...

Securing Your Sanctuary: How Faura.us Is Using Technology to Revolutionize Home Insurance and Disaster Resilience In an age of increasing natural disasters—wildfires, hurricanes, floods, and extreme storms—homeowners are facing a sobering reality: the places we call home are more vulnerable than ever. Meanwhile, the insurance industry is struggling to adapt to this new era of risk. Carriers are le...

Unpacking Insurance: Why We Resent What We Need Most When it comes to money, few topics trigger more frustration than insurance . We don't like paying for it, we don't like being told we have to buy it, and we especially don't like seeing our premiums rise year after year. Yet, when disaster strikes—a car accident, a fire, or an unexpected illness—insurance becomes the one thing that can save us f...

Get Used to It: How Drone and Aerial Inspections Are Redefining Home Insurance in California California's insurance crisis is evolving — and now, it's taking flight. With wildfire season fast approaching, thousands of homeowners are receiving non-renewal notices from their insurance companies — sometimes without a single inspector ever setting foot on their property. Instead, insurers are increasi...

Steering Through Costs: Smart Ways to Reduce Your Auto Insurance Premiums If you've noticed your car insurance premium climbing higher every renewal cycle, you're not alone. Across the U.S.—and particularly in California—drivers are watching their auto insurance costs rise, even when their cars are getting older and their driving records cleaner. So why do premiums keep going up? And more importan...

Eyes in the Sky: How Insurance Companies Are Using Drones to Decide Your Home's Fate Homeowners across California are discovering a new twist in their insurance renewal process — one that's taking place hundreds of feet above their homes. In a recent CBS 8 (KFMB San Diego) report, anchor Marcella Lee and reporter Shannon Handy revealed that major insurers are now using drones and satellite imagery...