Insurance
Dec. 10, 2024
Will Newsom's property insurance plan fix insurance or raise premiums?
California's insurance crisis, driven by wildfire risks and climate change, has led to soaring premiums and dwindling coverage options, but proposed reforms to ease rate approvals risk undermining decades of consumer protections without guaranteeing affordability or accessibility for homeowners.
Shant A. Karnikian
Managing Partner and Trial Attorney Kabateck LLP
Phone: (213) 217-5000
Email: sk@kbklawyers.com
Loyola Law School
Shant A. Karnikian is a Managing Partner and trial attorney with Kabateck LLP. His practice focuses on insurance bad faith, catastrophic personal injury, and consumer class actions.
California is facing an unprecedented insurance crisis. Homeowners across the state are being abandoned by insurers, who are canceling policies, halting new ones, or leaving California altogether. For those who still have coverage, premiums are skyrocketing. This is not just a crisis for the uninsured but a warning about the unraveling of consumer protections that have long kept the insurance industry accountable.
The crisis stems from multiple factors, ...
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