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BUSINESS
May 13, 2013 | By Walter Hamilton
Many Americans are confused about the basic elements of homeowner insurance policies, according to a new study. More than four in 10 people wrongly think that the policies cover mold damage and 73% don't realize that the policies do cover personal items that are stolen from a car, according to the poll by InsuranceQuotes.com. Perhaps most dangerous for anyone in California, 51% are unaware that earthquake coverage is not covered by standard homeowner policies, the study found.
ARTICLES BY DATE
OPINION
January 17, 2014 | By Dave Jones
Almost exactly 20 years ago, early on the morning of Jan. 17, 1994, residents of the San Fernando Valley were jolted awake by incredible shaking. Within moments, the Santa Monica Freeway - the major east-west artery in Los Angeles - came crashing down in huge sections; apartment houses pancaked, trapping and killing residents; and houses toppled off their foundations. It was no wonder. The magnitude 6.7 Northridge earthquake had just produced the strongest ground motions ever recorded in any American urban environment.
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CALIFORNIA | LOCAL
November 17, 1994
Any tax cut that California homeowners hope for from the reelected Gov. Pete Wilson must be balanced against the increase in home insurance premiums that many may face soon after Insurance Commissioner-elect Charles W. Quackenbush takes office. The insurance industry, the largest single contributor to the Wilson campaign, virtually financed the Quackenbush campaign, and big benefactors tend to receive kid-glove treatment.
OPINION
January 5, 2014 | By George P. Shultz, Scott W. Atlas and John F. Cogan
As the acute problems of the Affordable Care Act become increasingly apparent, it also has become clear that we need new ways of ensuring access to healthcare for all Americans. We should begin with an examination of health insurance. Insurance is about protecting against risk. In the health arena, the risk at issue is of large and unexpected medical expenses. The proper role of health insurance should be to finance necessary and expensive medical services without the patient incurring devastating financial consequences.
BUSINESS
September 7, 1993 | VIVIAN MARINO, ASSOCIATED PRESS
The deal on your new home is about to close. You hire the movers, contact the utilities, forward the mail . . . and pick out your homeowner policy. Homeowner insurance is the broadest coverage most people will ever buy, since it protects against loss or damage to your home and worldly possessions. Yet, some home buyers wait until the last minute to decide on a policy.
BUSINESS
September 10, 2005 | David Streitfeld, Times Staff Writer
Unlike thousands of waterlogged houses in New Orleans, deSha Bahlinger's home on the north shore of Lake Pontchartrain wasn't swamped by Hurricane Katrina. It was merely sliced in half. Two pine trees slammed through the roof, demolishing the family room and the breakfast nook. A branch pierced the living room wall, pink insulation clinging to it like cotton candy. But there's no water, no mud. Many of the family's possessions are OK. The house is uninhabitable, but it's not a total loss.
NEWS
March 14, 1991 | PAUL FELDMAN, TIMES STAFF WRITER
Urging California residents to "shop around" before purchasing homeowner insurance policies, state Insurance Commissioner John Garamendi Wednesday released a statewide survey spotlighting dramatic price differences between identical policies offered by the state's 26 largest insurance companies. The survey also revealed major price differences between identical policies purchased in various communities and regions of California.
BUSINESS
November 17, 2013 | By Stuart Pfeifer
Opinions about Mercury General Corp. often depend on whether they're coming from investors or consumers. The Los Angeles automobile and homeowner insurance company has been at the center of repeated attempts to amend California's landmark Proposition 103, which made automobile insurance a more regulated industry. For more than a decade, Mercury's founder and chairman, George Joseph, has clashed repeatedly with consumer advocate Harvey Rosenfield, author of the landmark proposition, before the California Department of Insurance, the courts, the Legislature and on the ballot.
OPINION
January 17, 2014 | By Dave Jones
Almost exactly 20 years ago, early on the morning of Jan. 17, 1994, residents of the San Fernando Valley were jolted awake by incredible shaking. Within moments, the Santa Monica Freeway - the major east-west artery in Los Angeles - came crashing down in huge sections; apartment houses pancaked, trapping and killing residents; and houses toppled off their foundations. It was no wonder. The magnitude 6.7 Northridge earthquake had just produced the strongest ground motions ever recorded in any American urban environment.
BUSINESS
November 17, 2013 | By Stuart Pfeifer
Opinions about Mercury General Corp. often depend on whether they're coming from investors or consumers. The Los Angeles automobile and homeowner insurance company has been at the center of repeated attempts to amend California's landmark Proposition 103, which made automobile insurance a more regulated industry. For more than a decade, Mercury's founder and chairman, George Joseph, has clashed repeatedly with consumer advocate Harvey Rosenfield, author of the landmark proposition, before the California Department of Insurance, the courts, the Legislature and on the ballot.
BUSINESS
May 14, 2013 | By Andrew Tangel
Sony Corp.'s stock rallied about 9% in early trading after a New York hedge fund proposed that the company take its entertainment unit public. Sony shares added $1.64, or 8.7%, to stand at $20.53 shortly after the opening bell on Wall Street. Daniel Loeb, chief executive of the hedge fund Third Point, outlined his case in a letter dated Tuesday and hand-delivered to Kazuo Hirai, Sony's president and chief executive. QUIZ: How much do you know about the stock market? In the letter , Loeb proposed a public offering of 15%-20% of Sony's entertainment division.
BUSINESS
May 13, 2013 | By Walter Hamilton
Many Americans are confused about the basic elements of homeowner insurance policies, according to a new study. More than four in 10 people wrongly think that the policies cover mold damage and 73% don't realize that the policies do cover personal items that are stolen from a car, according to the poll by InsuranceQuotes.com. Perhaps most dangerous for anyone in California, 51% are unaware that earthquake coverage is not covered by standard homeowner policies, the study found.
BUSINESS
March 5, 2013 | By Marc Lifsher, Los Angeles Times
SACRAMENTO - State regulators have ordered Mercury General Corp. to cut its homeowners insurance rates by 8.2%, instead of the increase in premiums that the company had sought. As a result, the Los Angeles insurer is contesting the ruling in court. The rate cut was announced by California Insurance Commissioner Dave Jones. "The rate reduction provided for in this decision would offer much-needed financial relief for homeowners and would no doubt help consumers keep more of their hard-earned dollars in today's tight economy," Jones said in a statement Tuesday.
BUSINESS
November 7, 2010 | By Stephen Glassman and Donie Vanitzian
Question: It is my understanding that homeowners associations are required to carry insurance coverage to protect the titleholders and those who serve on the board from liability for actions conducted by board directors in good faith during the ordinary course of business. I'm on my homeowners association's board and we do carry this insurance for the directors and our third-party property management company. One of our three directors believes we don't need this coverage since all the individual homeowners have their own liability insurance, and he has proposed dropping this coverage to save around $5,000 a year.
BUSINESS
September 1, 2009 | Marc Lifsher
As California heads into another season of wildfires that have been growing more frequent and more ferocious, homeowners are facing higher prices to insure their property. In the last year, some big insurance companies have won approvals from regulators for premium hikes ranging from 4% to 7%. And a round of requests for similar increases has been submitted to the state insurance commissioner. In a state parched by a three-year drought, wildfires are at least partly to blame for the price increases, industry officials and even some consumer advocates agree.
BUSINESS
September 16, 2005 | From Reuters
Mississippi Atty. Gen. Jim Hood sued five U.S. insurance companies Thursday, saying adjusters had tried to trick Hurricane Katrina survivors out of millions of dollars in homeowner claims, as disputes over losses started to hit the courts. Adjusters for Nationwide Mutual Insurance Co. and other insurers asked policyholders to sign forms acknowledging that they sustained flood damage, which is not covered by homeowner insurance, Hood said.
BUSINESS
December 23, 1994 | From Associated Press
The most comprehensive study to date on discrimination among insurers shows that poor people and minorities across the country have a harder time obtaining homeowner insurance and that they pay higher premiums. The study, issued last week by the National Assn. of Insurance Commissioners, concludes that insurers do not offer homeowner policies in urban areas populated by minorities and people with low incomes. The study also shows that insurers charge higher premiums in these markets.
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