July 19, 2013 |
Question: I've been president of our homeowners association for several years. We have fewer than 20 units and have managed to keep our HOA dues low at around $330 a month, mainly because we don't have earthquake insurance. We've saved a lot of money because we haven't paid for earthquake insurance for more than 15 years and have been very lucky. Do we have to get it? Answer: With one earthquake, your luck may run out. However, after 15 years of savings, and in the best interests of the association, the board should have been depositing those savings in an interest-bearing bank account.
December 3, 1992
Winter storms and flash floods may seem like distant memories, but Mayor Robert Tanenbaum announced this week that the city has qualified all Beverly Hills homeowners, renters and businesses for low-cost flood and mud insurance through the National Flood Insurance Program. Federally subsidized flood insurance can be purchased from any property insurance agent licensed to conduct business in Beverly Hills.
February 10, 1989 |
The state Supreme Court said today that it will hear oral arguments March 7 on the constitutionality of Proposition 103, the initiative to cut insurance rates. Under its rules, the court must decide the case within 90 days after the hearing. Proposition 103, approved by state voters in November, requires that auto and property insurance rates be reduced 20% below November, 1987, levels and frozen until November, 1989, unless an insurer can show a substantial threat of insolvency.
May 12, 1994 |
Just how much is your insurance agent worth to you? That question is at the heart of a soon-to-be-decided legal battle between big insurance companies and a handful of California insurance agents who want to rebate their commissions openly. If the issue is ultimately decided in favor of the insurers, rebates could be much more difficult to find--eliminated by law or in practice.
November 7, 2000 |
They were two of the most destructive hours in California history. Between 6 and 8 p.m. on a blistering day--June 27, 1990--a wind-whipped inferno roared out of the rugged hills above town, destroying 427 homes and 11 public buildings, including the Honor Farm jail. Miraculously, but still tragically, only one person died, a 37-year-old woman who vainly sought shelter from the flames in a creek behind her house. The $250-million Painted Cave arson fire went unsolved for a decade.