Posts Tagged ‘California’
What Is a Non-Admitted Policy?
Non-admitted insurance can seem a little intimidating at first, but it’s not as scary as it might sound online. It’s really just a different type of policy, and whether it’s a good fit for you depends on your situation. Here’s the scoop in plain English: What Is a Non-Admitted Policy? It’s a policy from an…
Read MoreCalifornia Lawmakers Push for Better Oversight of FAIR Plan Amid Growing Wildfire Risks
California Lawmakers Push for Better Oversight of FAIR Plan Amid Growing Wildfire Risks California legislators are taking steps to strengthen oversight of the state’s insurer of last resort, the California FAIR Plan Association. With wildfires becoming a growing threat, new legislation aims to enhance transparency and financial stability for property insurance coverage. Assembly member Lisa…
Read MoreDermatological Drugs Dominate California Workers’ Compensation Spending
Dermatological Drugs Dominate California Workers’ Compensation Spending Dermatological drugs, including several high-priced, private-label medications, now account for the largest share of drug spending in California’s workers’ compensation system, according to a new report from the California Workers’ Compensation Institute (CWCI). CWCI’s latest analysis highlights recent trends in drug prescriptions for injured workers in the state,…
Read MoreLA Wildfires Could Cost Insurance Industry Over $30 Billion
LA Wildfires Could Cost Insurance Industry Over $30 Billion Wildfires in Los Angeles have caused devastating losses, with insurance industry damages potentially exceeding $30 billion, according to new estimates from Wells Fargo and Goldman Sachs. These figures surpass earlier projections of $20 billion by JPMorgan Chase. Home-insurance providers, including Allstate, Chubb, AIG, and Travelers, face…
Read MoreLA Wildfires: Key Updates and Impacts
LA Wildfires: Key Updates and Impacts As firefighters gain control of the devastating wildfires in Los Angeles, the scale of destruction and economic impact is becoming clearer. These fires have destroyed 10,000 homes, forced nearly 200,000 evacuations, and are among the most destructive in U.S. history. Total Losses – AccuWeather estimates total economic damage…
Read MoreSevere Winds Sweeping Through California
The severe winds sweeping through California, particularly in Los Angeles, are intensifying fire dangers in an already dry region. These winds, often referred to as Santa Ana winds, are notorious for their strength and their ability to rapidly spread wildfires. Coupled with the rain-starved conditions that have left vegetation dry and highly flammable, the region…
Read MoreStiiizy Data Breach: What Cannabis Businesses Can Learn About Cybersecurity
Stiiizy Data Breach: What Cannabis Businesses Can Learn About Cybersecurity In a concerning reminder of the increasing threat of cyberattacks on the cannabis industry, Los Angeles-based cannabis operator Stiiizy reported a data breach that occurred between October 10 and November 10, 2024. The breach compromised customer data from four California retail locations: Stiiizy Alameda:…
Read MoreWhy Every Business Needs Commercial Auto Insurance
Why Every Business Needs Commercial Auto Insurance When it comes to running a successful business, protecting your assets is key. If your company uses vehicles for operations—whether for deliveries, transporting goods, or as mobile workplaces—you need commercial auto insurance. Here’s why: 1. Protect Your Business’s Bottom Line Accidents happen. Without the right coverage, repair costs,…
Read MoreCalifornia Cannabis Crackdown
California’s Cannabis Crackdown: A Snapshot of Enforcement and Market Challenges. California’s Enforcement Efforts Against Illicit Cannabis As 2024 came to a close, Governor Gavin Newsom highlighted California’s continued efforts to tackle illegal cannabis operations. A notable operation in East Oakland led to the seizure of over 21,000 cannabis plants and 3,000 pounds of flower, valued…
Read MoreTop Claims Filed in the Cannabis Industry
Top Claims Filed in the Cannabis Industry and How to Avoid Them Running a cannabis business comes with its risks. 🌿 From product issues to theft, claims can appear when you least expect them. They can also be expensive if you’re not ready. The good news? Knowing the most common claims and how to…
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