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San Bernardino County calls for state to take emergency action on home insurance crisis
The San Bernardino Board of Supervisors urges emergency measures to stabilize the property insurance market as major carriers exit California
2 min read
SAN BERNARDINO, Calif. — San Bernardino County officials are urging state leaders to take immediate action to stabilize California's property insurance market amid a growing crisis that threatens homeowners and businesses across the state.
Why it matters: This move comes after two of California's largest insurance carriers, State Farm and Allstate, announced last year that they would stop issuing new homeowners and commercial property insurance policies in the state. Several other insurers, representing 36% of the insurance market, are also restricting new policies.
In March of 2024, State Farm announced that it will non-renew about 30,000 property insurance and 42,000 commercial apartment policies across California, impacting some Redlands residents.
These alarming trends have left many Californians grappling with the daunting task of securing insurance coverage, particularly in high-risk areas prone to wildfires.
Details: The county's Board of Supervisors unanimously passed a resolution Tuesday, June 25 calling on the state insurance commissioner, governor and legislature to address the recent exodus of major providers and work towards a more resilient and accessible insurance market.