California battling State Farm over fires
The California Department of Insurance is accusing State Farm, the nation's largest home insurance company, of delaying, denying and underpaying claims after last year's wildfires. Carter Evans reports.
Watch CBS News
The California Department of Insurance is accusing State Farm, the nation's largest home insurance company, of delaying, denying and underpaying claims after last year's wildfires. Carter Evans reports.
A year after CBS News California Investigates exposed secrecy inside the California FAIR Plan, the insurance commissioner is backing a bill that would open meetings and financial records and require public reporting for the state's insurer of last resort.
The latest California wildfire, burning about halfway between Los Angeles and San Francisco, was just 10% contained on Saturday. Meanwhile, homeowners who felt lucky their homes didn't burn to the ground are in for a surprise. Elise Preston has more.
The California Department of Insurance has commissioned a task force to develop a first-in-the-nation smoke damage standard that could be the blueprint for a national standard.
In an exclusive interview with CBS News California Investigates, California Insurance Commissioner Ricardo Lara announced a formal Market Conduct Examination of State Farm.
Once thought of as a small, rarely-used backstop, the FAIR Plan is now one of the largest insurers in the state, and people without FAIR Plan insurance are the ones on the hook for the FAIR Plan's debt. Yet the FAIR Plan is still cloaked in secrecy.
Two lawsuits allege major home insurance companies have colluded to limit coverage in wildfire-prone California communities and force homeowners onto the state's last-resort insurance plan.
As more people in California lose private insurance, the state's FAIR plan is filling up with homes in places the industry itself has classified as low-risk for wildfire.
Following a CBS News investigation, California's insurance commissioner said he will push to require more transparency when it comes to the state's FAIR Plan for fire insurance. CBS News' Julie Watts and Scott Pham join "The Daily Report" to discuss their investigation.
Increasingly intense wildfires have become more common in California, upending the lives of thousands. Many insurers are dwindling coverage options, leaving several homes in danger. Business Insider senior sustainability reporter Catherine Boudreau joins "The Daily Report" to discuss.