state farm is reversing course on dropping their insurance policies. consumer investigator chris chmura joins me now. so, chris, what does this mean for the people down there? and what does this mean for us? it might be good news for us, too, jessica. state farm is doing a 180 with thousands of policies there before the fires. it sent notices telling many families it was going to drop their coverage this year. but today, state farm said it's pausing that and will not drop them right now. a rep told us this decision reflects our commitment to supporting our customers and l.a. county. customers will have an option to renew with state farm for another policy term. this surprise development is in some ways not actually a surprise. it's proof that insurance companies decision making changes. well, that changes daily. a lot of companies have announced they intend to drop california policyholders, but they're also constantly feeding new data into their risk calculations and adjusting accordingly. like today, sometimes for the better. so no matter who your ins

like a good neighbor, state farm is there.® ♪ that's real♪y good news.ir wick vibrant. infusionados con el doble de aceites esenciales naturales. para tener hasta 120 días de increíbles fragancias para tu hogar por paquete doble. respira frescura con air wick. hay. por un lado, los bomberos de california le hacen frente a nuevos incendios y por el otro empiezan a controlar el fuego que habÍa motivado mÁs de 50.000 Órdenes de evacuaciÓn en los condados de los Ángeles y ventura. el reporte es de francisco fajardo. >> otra vez los angeles. >> y otra vez una jornada de nuevos incendios. asÍ se veÍan las enormes fumarolas del incendio en castaic, california, que en apenas horas quemÓ mÁs de 10.000 acres de maleza, mayormente durante el miÉrcoles cerrÓ por momentos la autopista interestatal cinco y desatÓ caÓticas Órdenes de evacuaciÓn, como el de estos estudiantes de preparatoria. >> estÁbamos mirando la lumbre que venÍa en el cerro, bajando el lago y este. empezamos a empacar todo lo mÁs necesario. >> afortunadamente, en apenas horas y con un ataque frontal,

- not me. - like a good neighbor, state farm is there.ve. valentine's bra and lingerie sets from just $19.95 at adoreme.com. $6 nunca han sido tan sabrosos! el breakfast faves combo de ihop ahora cuesta solo $6. incluye los world famous buttermilk pancakes. tocino crujiente ahumado estilo hickory. y dos huevos cocinados a tu gusto. parte del nuevo house faves menu por $6. el acoso escolar estÁ relacionado con la depresiÓn y con el suicidio y por eso es tan importante trabajar para prevenirlo. hoy, en el marco de nuestro foro contra el racismo, queremos compartir la historia de una mamÁ latina que ha sufrido recientemente la pÉrdida de su hija adolescente, lourdes hurtado nos trae historia y nos muestra las seÑales de alerta que las familias deben conocer para buscar ayuda. >> birthday to you. >> su hija ileana estarÍa cumpliendo 15 aÑos si no hubiese tomado una decisiÓn trÁgica. hace poco mÁs de un mes, su familia y amigos en new jersey se preguntan quÉ fue lo que la orillÓ a quitarse la vida. >> happy birthday baby girl. >> baby. >> el a

. ♪ like a good neighbor, ♪ ♪ state farm is there. ♪ - state farm can help you choose the coverage youen para llegar a sus casas. muchas de ellas son viviendas que van a encontrar seguramente en ruinas. se estima que mÁs de 650.000 personas dejaron el norte de gaza desde que estallÓ el conflicto entre israel y jamÁs. estas imÁgenes captadas por un dron muestran a los gazatÍes caminando entre escombros por el corredor de netzarim. israel permitiÓ el regreso de los desplazados tras un acuerdo con hamas para canjear tres rehenes por presos palestinos. hoy tambiÉn se realizÓ una ceremonia por el aniversario nÚmero 80 de la liberaciÓn del campo de exterminio nazi de auschwitz. unos 50 sobrevivientes participaron en la conmemoraciÓn junto a varios jefes de estado en el evento. una de las vÍctimas alertÓ del aumento del antisemitismo en el mundo. se estima que 1 millÓn de judÍos y mÁs de 100.000 personas que no eran de esa religiÓn murieron en auschwitz entre 1940 y 1945. estas son imÁgenes que hoy tambiÉn son noticia. en tampa, florida. una persecuciÓn policial comenzÓ cuando un hombre de 48

california's largest insurer, state farm, canceled 72,000 policies last february, 30,000 were homeowner policies. and now the state's insurer of last resort, the fair plan, will likely be overwhelmed by the billions of claims they will receive over the coming weeks and months. core logic estimating 456,000 homes with nearly $300 billion in reconstruction cost value at moderate or greater risk within the los angeles and riverside metropolitan areas, these numbers are at risk v values, nt actual values. the neighborhoods around the palisades fire are the hardest hit. they experienced 1930 policy cancellations between 2019 and 2024. that's 28 out of every 100 policies and this is according to the san francisco chronicle. as a result, homeowners turned to the state's fair program. the pacific palisades is the fifth largest user of fair policies in the state with nearly $6 billion in exposure. but the fair program has only $700 million in cash on hand to pay claims. insurers for their part say operating in the fire prone overbuilt areas like southern california make it impossible to stay sol

. >> like a good neighbor, state farm is there. >> hey, state farm is here to help. >> so she trulyf the culture. it's not just sports. you know the fact she's only 22, so she is really only just begun. >> but in an indianapolis courtroom today, clark and an alleged breach of her safety is at the center of a criminal case. >> good morning, mr. lewis. >> a texas man, 55 year old michael thomas lewis, is charged with felony stalking of clark. a plea of not guilty entered on his behalf. despite the surprising outburst. >> guilty? no. >> in a five page court document filed on january 11th, lewis is charged with repeated or continuing harassment of caitlin clark. prosecutors say clark felt terrorized, frightened, intimidated or threatened and was in reasonable fear of sexual battery. prosecutors saying that lewis sent these threatening and sexually explicit messages to clark on x. some seemed to indicate how close lewis may have gotten to clark. lewis allegedly writing, been driving around your house three times a day. in another message, allegedly writing i'm getting tickets. i'm sittin

. ♪ like a good neighbor, ♪ ♪ state farm is there. ♪ - state farm can help you choose the coverage youited te damos otra gratis por un año. ¡si eres cliente de xfinity internet! cámbiate a xfinity mobile y elige tu teléfono 5g grati. además, tu siguiente línea unlimited gratis por un año. consigue ahorros increíbles y conéctate a velocidades de wifi de hasta un gig donde vayas con xfinity mobile. hoy se hizo historia el primer secretario de estado latino de estados unidos, marco rubio, asumiÓ el cargo y dio parte de su mensaje en espaÑol. >> quiero darle las gracias a dios, a mi familia, a mi familia, que no estÁ aquÍ con nosotros hoy, a mis padres que vinieron en este paÍs en el aÑo 1956 y el propÓsito de su vida fue que nosotros pudiÉramos vivir los sueÑos que no fueron posibles para ellos. >> el ex senador de florida calificÓ como un honor increÍble ser el secretario de estado del paÍs mÁs poderoso y mÁs bueno. el vicepresidente jd evans le tomÓ el juramento anoche. el senado lo confirmÓ con una votaciÓn unÁnime de 99 a 0. mÉxico estarÁ en la mira del nuevo secretario de estado. hay

but now state farm is pausing that and will not drop them right now. la county customers will have an option to renew with state farm for another policy term. this surprise development is in some ways not actually a surprise. it's proof that insurance companies decision making changes, sometimes daily. yes, a lot of companies have announced they intend to drop california policyholders, but they're also constantly feeding new data into their risk calculations and adjusting accordingly. sometimes, like today, for the better. so no matter who your insurance company is, if you received a letter before the fires that says they're dropping your policy this year, call them and ask if they're also doing an about face. you know, don't don't don't sit on it and ignore it. reach out to your company if you have questions about the notice, to see if there are any options for you. the squeaky wheel might get the insurance policy. if you have a consumer battle for us to check out, please share your story. scan the qr code on your screen right now to fill out our cons

- not me. - like a good neighbor, state farm is there. oye, ¿cómo obtuviste tu seguro médico?Áfagas podrÍan alcanzar de 50 a 70 millas por hora en las costas y valles. >> las Áreas mÁs crÍticas se extienden desde el condado de ventura hasta malibÚ, en la costa oeste y desde el valle de san fernando hasta big points en pomona, en el lado oeste. tambiÉn se estÁn vigilando de cerca el incendio de maleza que se desatÓ en san diego en las primeras horas de este martes y que ya ha arrasado 80 acres, aÚn arde fuera de control. se emitieron Órdenes de evacuaciÓn en el Área de bonsall. mientras mÁs de 150 bomberos luchan tambiÉn contra estas llamas. y antes de irnos, queremos felicitar a los ohio state por haberse alzado como los campeones del college football playoff 2025. ellos se impusieron sobre notre dame fighting irish 34 a 23. >> el encuentro se realizÓ en el estadio mercedes-benz de atlanta, georgia. con este triunfo los se anotan su noveno campeonato nacional. tambiÉn es el primero que ganan desde el 2014. muchas felicidades para ellos y con eso nos despedimos. como siempre. g

and state farm says it's begun cutting these initial checks, but in california, state farm has the largest policies, 8 million, across the state. 250,000 property policies in l.a. county, and 88,000 auto policies. last year, though, it joined its publicly traded competitors in significantly lowering its exposure to the riskiest regions in the state, not renewing policies or not accepting new policies. it says that the state just wasn't allows rates that reflected the true cost of the risk. today, they say, though, their focus is completely on the clients they have. the company spokesperson told me they're on a mission to reassure these customers they will get paid what they're owed. and we just learned that state farm yanked its super bowl ad for february, it says it needs to focus on its customers, so, those are the updates here from the state's largest insurer, melissa. >> contessa, thank you. contessa brewer. there's going to be a need -- in the last hour, she was talking about, there's not going to be a big developer, a toll brothers, to go in and rebuild. these are individuals rebuild

state farm is reversing course on dropping their insurance policies.too. state farm is doing a 180 with thousands of policies before the fires. it sent notices telling many families it was going to drop their coverage this year. but now state farm is pausing that and will not drop them right now. l.a. county customers will have an optionn to renew with state farm for another policy term. this surprise development is in some ways not actually a surprise. it's proof that insurance companies decision making changes, sometimes daily. yes, a lot of companies have announced they intend to drop california policyholders, but they're also constantly feeding new data into their risk calculations and adjusting accordingly. sometimes, like today, for the better. so no matter who your insurance company is, if you received a letter before the fires that says they're dropping your policy this year, call them and ask if they're also doing an about face. you know, don't don't don't sit on it and ignore it. reach out to your company if you have questions about the notic

the state's insurance department says state farm dropped about 1,600 policies in pacific palisades lastrecent trend in private insurance of not covering high-risk areas prone to climate disasters. state farm says the priority is, quote, the safety of our customers, agents, and employees, and assisting our customers in the midst of this tragedy. the palisades fire could become the costliest wildfire in history because the homes destroyed rank among the nation's most expensive. >>> and the fight over tiktok's future heads to the supreme court today. the court is set to hear arguments on whether to overturn or delay a law that could lead to a nationwide ban on tiktok. the law, which saw bipartisan support, is set to take effect on january 19th and requires the chinese parent company to sell tiktok to a u.s. agent in order to maintain its presence in america. >>> that's your cbs "moneywatch" report for this friday morning. i'm shanelle kaul, cbs news, new york. >>> up next, a new chapter in the "rust" movie shooting. why actor alec baldwin has filed a lawsuit. if it's covid, paxlovid. paxlo

state farm is california's largest insurer. eowners policies last summer there. 72,000 across the state. the company justified the cancellations with an attempt to avoid financial failure in high risk areas, they say. several private insurers also cut coverage in the last three years, forces thousands to turn to a state backed system called california's fair plan. its president had this warning about agency finances. watch this. >> a member of the volunteer market told me if i could pick a company to reinsure you would not be the one. i agree with you. it's not -- you're right. it's a gamble, right. and we are one event away from a large assessment. there's no other way to say it. because we don't have the money on hand and we have a lot of exposure out there. maria: joining me now is licensed insurance broker, insurance advisor, member of the new york state assembly committee on insurance, jake bloomen crants. how would assess the insurance end of this. >> thank you for having me today under these circumstances. and yes, it's a

bundle, jake from state farm? victory, savings. that's a weird analogy, jake...here we go. whoo! yes! this is a great moment for bundling. bundling. just another way to save with the personal price plan. there it is. his signature dance. like a good neighbor, state farm is there. even when us women's national team forward mallory swanson isn't on the field... ...she always makes the perfect play. thanks to the bank of america customized cash rewards visa card, she'll earn 3% cash back on her purchase after choosing the online shopping category. ♪♪ can neuriva support your brain health? mary, janet, hey! eddie, no. frasier, frank. frank? —fred, how are you? —fred! support up to 7 brain health indicators, including memory. when you need to remember, remember neuriva. >>> here's what's making headlines this morning. u.s. officials have confirmed the first outbreak of a rare strain of bird flu on a california duck farm. this is a different strain from the one that has been spreading aggressively across the country. th

back in 2017/2018, we started seeing insurance companies: state farm, all state, they started dropping the wild fire-risk zones because of the -- because of the insurance regulation commission in california, they were not allowed to charge more to the homeowners. they couldn't put in catastrophe modeling into the policies so they started dropping people. the insurers said you've got a ticking time bomb here. charlie: exactly. >> and the regulators, well, no, no, no. they started begging the insurance companies to stay in the state. things were looking up for 2025 until the disaster this week and the wild fires. but the journal points out, and i've done a lot of research on this this week, state farm dropped nearly 70% of policyholders in one piece, in one part of pacific palisades. now a lot of homeowners going to the fair plan. the fair plan is the insurance of last resort if you live in california. high premiums, not great coverage, their cap is $3 million. the average home in pacific palisades is $3.5 million. then the economic issue as well. but they didn't renew 68%, almost 70% of

last year and a half 7 of the 12 major home insurance companies in california, including allstate, state farm and farmers insurance have either limited their business within the state or in some cases stop selling new policies altogether for homeowners living in some of california's most fire prone areas. that resulted in some californians struggling to find any insurance coverage and all a key requirement to carry a mortgage from home. for their part. insurance companies have said they have no other choice but to pause or stop selling policies out of concerns. they could face huge losses. should a major disaster like a wildfire destroyed homes and at-risk communities. this has been an ongoing crisis. was a california exacerbated now, you know, we working with staff and many of my colleagues to sure. >> we don't have a collapse of the market cap but just minutes before it was held, this press conference, his democratic colleagues in the assembly moved forward with governor gavin newsom. special session aimed at allocating 25 million dollars in state funding to help california attorney general

fires, they just started say, leaving the state entire and the ones that have stuck around like state farm and all state now refused to write new policies for people in california and thousands of homeowners have had their policies canceled in the months before the fires even started after rob schneider took the extra day to bent his anger. say if you state for you with all your phony commercials, your a pilot, potentially insurance policies of california, i will never use state farm insurance ever again. so what happens if you struggle to get private insurance for your home? well, nearly 500000 californians are now relying on the fair plan, deep states insurance of last resort, which is the catch spare is in built for the kind of disaster happening right now. when export estimates that just the pacific policies alone could seats $13000000000.00 in losses, and you want to know how much in reserves the fair plan has $385000000.00. not even a huff of 1000000000. these numbers are quite interesting to say the least naturally i believe you can not talk much about where things stand with you. y

california's largest home insurer state farm canceled tens of thousands of insurance plans across thefarm policyholders were dropped from their coverage on months ago in the palisades. now that very community has been decimated. this phenomenon is not exclusive to the golden state. insurance companies have also been pulling out of hurricane prone states including florida and louisiana and it is certainly possible even likely that this trend is going to grow given the stark reality of climate change. joining me now is jeff goodell. thanks for being here tonight. first of all, we haven't begun to grapple with the implications of the state farm for example dropping coverage for 70% of the palisades. do you think the insurance company is thinking you are no longer insurable? is that the wake up call the country needs? >> we hope so. >> the risks of living in this new climate, this hotter more turbulent climate are not priced in to insurance. the insurance risks are escalating quickly. you are seeing it around the country. there are tremendous implications to this. if you try to get a mort

a state farm insurance announcing it will offer insurance renewals even to some homeowners. it planned to previously drop. la's mayor calling this encouraging news, but hopes that other insurance companies follow suit. melissa o'donnell, abc news, altadena. >> if you'd like to help people affected by the wildfires, you can donate at redcross.org. slash abc to help the red cross respond and help people recover. new information today on a story we've been following since 2021. a bay area native accused of raping a pennsylvania college student is now back in the u-s. ian cleary, of saratoga, was extradited today from france. authorities there detained him last april after a three year international search. investigators say back in 2013, cleary stalked the alleged victim at a party at gettysburg college, then followed her back to her dorm and sexually assaulted her. they reopened the case in 2020, when the woman received several social media messages that appeared to be from cleary, including one that read so i raped you. speaker emeritus nancy pelosi will not attend president

ashley gallagher, the business owner turned her into a state farm into a distribution center for food, water slowly peterson building supplies for neighbors. in neighbors in their cafÉ. , propane tanks on the heaters and anything else the people in every county needed and none of the individuals cared about the party registration about the person. it never entered their mind. they just stepped up neighbors. i could stande here all day performed an act of courage and large and. people are good and ready to meet any challenge, north carolina strong. supporting our neighbors in western north carolina the same way they are reporting each other. we must fast track getting them back their homes as quickly as possible support business owners the hiring our economy for decades to come and rebuild roads, bridges things so they are resilient. that's why each of my first technical risk factor red tape to rebuild. this past tuesday, the last everything in the blood andng as rebuild she's living home on her own pretty warm. i'm committed arm in arm for as long as it takes. [applause] north carolin

could make myself useful so i got my law degree, came to campbell and met a whistle blower from state farm and felt they were not handling claims properly and we started to form a group and they had the oakland fire and how do you get through it. we built our road map to recovery and preparedness program and advocacy. so for three decades we have been providing information and a voice to people across the country and businesses that have bought insurance and want the straight scoop and be treated fairly. host: when were talking about those issues who are you working with? guest: right now in california it has been in the grip of an insurance crisis which has been impacting a lot of or states. in the past we were focused on disaster recovery which we are doing in l.a. we have in recent years built a very robust work stream around advancing mitigation and risk reduction. this is not just in california. helping people deal with insurance companies' increasing reluctance for a price people can afford but very severely in florida and california and now a little bit colorado. we have been thinki

. >> fire insurance while james about 2000 people in orinda, they don't have at least state farm. they might have other insurance companies right now. but the last year, the controversy in orinda state farm decided to drop about 2000 people because they live in wildfire country as they say in this place in particular. and it just was not worth it for them to continue covering these customers. they have something in common with pacific palisades because about 1600 customers in that area also dropped by state farm just a couple of months ago. this is a crisis in california years in the making. get this from 2020 to 2020 to about 2.8 million californians their insurance companies drop them claiming it was just too risky for them to continue covering them for wildfires because this area has turned into wildfire territory. los angeles county alone. about 531,000 people lost their insurance during that two-year span. a lot of people are fearful. of course, the fires continue to burn and they say no matter what may happen, it probably will not be good because insurance companies may cont

state farm says it's received more than 6000 claims from the fires. they told ktvu tonight that they are focused on helping their customers recover from one of the largest fire events they've ever experienced in california. state insurance commissioner ricardo lara saying in a statement here. all eyes are on insurance companies right now, including mine. i've asked state farm and all insurance companies to answer my call to honor the policies they non-renewed in the areas i've protected by my moratorium powers under my notice. >> last week, one man who lost his home to the eaton fire says it happened right on his 61st birthday. altadena resident robert packard shows us this video of flames coming from a neighbor's home at 9 a.m. on january 8th. his own home was gone by two in the afternoon. one thing packard says is keeping his mind occupied is his job as chief financial officer of lasalle college preparatory. thisap on your screen here shows a significant number of students who had to evacuate the burn zone. >> many families have actually lost their

arizona cardinals, en el estadio state farm en glendale, arizona.o sí el 9 de febrero. entonces sí, lo más lo más probable es que se tenga que jugar en arizona en el 2020, cuando estuvimos en la pandemia, que aquí también hubo incendios forestales, hicieron lo mismo. los niners se fueron de hecho 3 meses a arizona y terminaron jugando todos sus partidos de local allá. esa temporada casi nadie la recuerda porque hubo muchísimas lesiones y no les fue nada bien, pero la calidad del aire no era buena. el equipo no podía entrenar y se tuvo que ir a arizona. entonces yo creo que sería la mejor opción para los 2 equipos. pero mira las consecuencias al final van a jugar también con la mitad del corazón, con dolor, no solamente los fanáticos, sino también los jugadores. mira, el entrenador no? sí, así pasa. pero bueno, hablando de eso, en los deportes hoy hablaron los que toman las decisiones de san francisco. 49ers vamos a repasar lo die siqu que ganadores juegan y los jugadores ganan. si ustedes creían que luego del anuncio de allan pulido y la inminente s

very large home insurers like state farm and all state are pulling out. state farm, i think stopped home insurance last spring. i'm no expert here either, but, you have to wonder if they were looking at same infrastructure problems and assessing same risks and they decided they don't want risks, blowing up their company, they have shareholders to answer to. california state insurance regulators will let insurance company charge sufficiently high are premiums to cover the natural disaster risk ofs, the premiums get higher and higher, that only way that insurance companies can make a living, california state insurance regulator and plan the fair plan, is going to take a big hit from the wildfire damages, they are about to assess private insurance companies a huge amount which the private insurers, cannot afford to pay. california is already in a home insurance crisis, even before this catastrophe. this may be the costliest blaze in american history. not completely unlike the hurricane disasters you see in florida. or else about, louisiana for example. 7 pro

state farm, california's largest home insurer, announced last summer that it was seeking increases inrates of as much as 52% for some renters, citing increased costs and risks. state farm had already stopped selling insurance for new homes in california in 2023. >> it's incredibly risky in high risk areas. >> some people are estimating that we could be looking at 50 or $60 billion in losses. >> in recent days, california's insurance commissioner issued a bulletin to protect homeowners affected by the palisades and eaton fires for one year. >> i am using my moratorium power to stop all non-renewals and cancellations. >> when state farm announced it would stop new home insurance sales, the company issued a statement specifically citing skyrocketing construction costs and the risks posed by wildfires like the ones we're seeing now. farmers insurance, which was francis boschetti carrier, did not respond to cnn's request for comment on his case, but told the los angeles times it could not comment on machete's assertions because the company does not discuss individual policyholders. wolf, v

el aÑo pasado la compaÑÍa de seguros state farm anunciÓ que no renovarÍa pÓlizas.nado de seguros de california se lo explicÓ a univisiÓn investiga. >> lo que estÁ sucediendo a un nivel global en el cual los seguros estÁn limitando la cobertura en estados especialmente como california que continÚan sufriendo de los incendios forestales y los incendios catastrÓficos. gerardo: tenemos entendido, comisionado, que antes de estos incendios las compaÑÍas de seguros habÍan retirado las pÓlizas a varios dueÑos alegando que esta zona estaba muy expuesta a estos percances. >> estamos ahorita viendo y pidiÉndole al aseguradoras que respeten las pÓlizas de estos consumidores, ya que esto es algo sin precedente. gerardo: horas despuÉs de esta entrevista la comisiÓn de seguros ordenÓ una moratoria de un aÑo para prevenir la cancelaciÓn del seguro en las Áreas afectadas. >> ahorita lo que estamos viendo con nuestros abogados es, si una persona recibiÓ una carta diciÉndole que se les va a eliminar la cobertura, pero aÚn todavÍa no se le ha eliminado, nomÁs recibieron la carta, si t

to arizona at state farm stadium the same carrier that canceled fire insurance just months before. >>n that situation. >> carley: state farm has been in the news whether maybe by no fault of their own canceling policies ahead of this horrific fire. >> todd: going to the psyche of those suffering what do you think it does to have some of the players and coaches who you are watching perform that you are rooting for actually have going -- they are going through the same thing as well, some of their homes have burned. they have it to relocate their families. what do you think that does to the psyche of the people that are suffering so much? >> man, i can't even imagine. i was just saying last night i know j.j. reddick home coach of the lakers his home burned down living in pacific palisades with his family. i can't imagine having to be tasked with coach game having so much -- you have so many people relying on you but your whole world is in shambles. i just have to imagine if you are able to get through adversity like this and have you your team alongside you and it really does a lot. hop

what were talking about. 11600 pacific palisades lost their property insurance in last april after state farmid that happen, tells about the challenges of the homeowners will face as they try to reb rebuild. >> if you look back the last couple of years we had a tremendous uptake of natural disasters in america. it's unfortunate when you look at hawaii and the sun belt insurance company saw this and want to mitigate risk and was the easiest way to mitigate risk to exit high risk markets. it's a shame it's impossible already today to find prior to this horrible event to find insurance in these areas did what will happen six months from now it will be completely uninsurable, that means you cannot transact banks will not land on a home that does not have insurance and i don't know homeowner that would want to pursue an investment without adequate insurance, the regions will be completely uninsurable at some point. maria: it's heartbreaking to think about the people that acquired the hunter inheritance they inherited this incredible need of a home and living there and now the home is burnt to the

very large home insurers like state farm and all state are pulling out. state farm, i think, stopped home jury was duly sworn last spring. now, i'm not expert here either but you've got to wonder if they were looking at very same infrastructure problems and assesses the same risks that others had and these juriers decide they -- insurers decided they don't want the resident and can blowing up their balance sheet or entire company. i mean, they've got shareholders to answer to. the california state insurance regulators are not going to let the insurance companies charge sufficiently higher premiums to cover the natural disaster risks. yeah, those premiums keep getting higher and higher, but it's the only way the insurance companies can make a living unless they pull out all together. plus, the california state insurance regulator and their plan called fair plan is going to take a big hit from the wild fire damaged, and they are about to assess private insurance companies an enormous amount, which the private insurers in many cases can't afford to pay. cali

that is what we saw with state farm, allstate, farmers, and others who said they will not accept new te or they would reduce their exposure. in pacific palisades for instance you saw a lot of people lose their state farm policies. they went to california's insurer of last resort. the fair plan has $6 billion of exposure in pacific palisades alone. guess what? they are not getting that my sources say in premiums. what happens if they run out of money? last year the head of fair plan set we are in danger of imploding. is exponentially higher than our resources to pay out claims. what happens? every insurer that is operated in the state for two years will be assessed according to their market share. let's say allstate tried to reduce down their exposure to these wildfire areas, they could find themselves on the hook for hundreds of millions, potentially billions of dollars if the fair plan goes belly up . >> elyse, why would i want to operate in that state? why face the risk? >> that is what they are allowing for. they are allowed to make money. they are also taking on risk. they are ade

the other one, let's see, state farm, is pulling out y are ey pulling out? e not pullinout because they don't like helping people. e reason, the state insurance regulators won't let them charge the necessary high premiums, okay. they're very high premiums. because of the fire risk. they can't charge it. so you have overregulation on that front. on the other side, i'm sure these insurance companies understand that due to california politics, gavin newsom's very left-wing states, very high-tech state, nonetheless, they're not helping the infrastructure in california. so the reservoirs are in bad shape. the pipes are in bad shape. the water doesn't flow properly. you see these pictures of the hydrants where the water didn't come through. insurance companies know that when natural disasters come, like big santa ana winds, for example, and someone lit a fire unfortunately, they can't afford it. i mean, the insurance companies have stockholders. they have to protect their net worth. they have to protect their capital. it's just not as easy as you think. the other p

taxes, state farm and all of these things.g it is -- >> laura: the people are saving themselves.lpinare saving themselves and their friends are helping other friends but helping to make new friends and the horror of all of this.his. and james, there is a lot in this story, but one of them l which we will delve into later is why these insurance companiet and everyone hates insuranced companies, i get it coach about why they pulled out, california has some culpability in that as well because thed y wouldn't let rates go up even though rates had to go up to remain solvent in the state. so it is a confluence of events, .ut leadership matters the good times, but it really matters in the bad times. youand i wish you and your famy the best.y are you going to rebuild, fully rebuild in that same locationpig because a vulture capitalists are swooping down too. >> we are rebuilding and doubling down. i love the palisades and i think it can be incredible. so we are optimistic.if t if they are can be people t competent running the place.he there is no reason it has to be like this. >> laura: it i

en junio del 2024 la compaÑÍa state farm cancelÓ 1300 pÓlizas en pacific palisades, pero otros sufrieronÍan superar los $ 150.000 millones. >> que continÚa en esta sentencia podrÍamos un cierre no digamos que total, pero gran parte de las compaÑÍa de seguro van a seguir sin asegurar y eso va a colapsar. guillermo: en california la comisiÓn de seguros del estado ya habÍa advertido a las aseguradoras que tenÍan que aumentar sus coberturas, pero la realidad es que muchas de ellas han hecho todo lo contrario y cada vez recortan mÁs la protecciÓn mediante pÓlizas a miles de clientes. incluso antes de que se produjeran los devastadores incendios en california muchas compaÑÍas de seguro ya habÍan anunciado que no renovarÍan sus pÓlizas a miles de clientes. ahora lo que muchos se preguntan es quÉ pasarÁ luego de la tragedia y cuÁl serÁ la nueva polÍtica de las aseguradoras para clientes que viven en zonas de alto riesgo de desastres naturales. eliÁn: gracias. definitivamente esa es la gran pregunta. a propÓsito de los vientos, hay una preocupaciÓn latente en california. podrÍan avivarse las llam

the announcement coming nine months after state farm declared it would not issue new homeowner policiess has cut coverage for at-risk areas across the state in the last three years causing an insurance crisis forcing thousands to truly state back system called california fair plan for property insurance, joining benassi are ceo and insurance industry expert, thank you very much for being here, what are your thoughts on the insurance copies canceling the homeowner policies a year ago. >> this is going to create a ripple effect of devastation that goes beyond the loss of life and buildings in residence because the ripple is going to keep impacting the people who think that they have insurance and their actually underinsured which will be one of the biggest problems that we see as well as the skyrocketing insurance premiums that are going to happen because of the catastrophic loss that there is no surplus to cover this. >> it is extraordinary the fact that you're dealing with five fires the massive losses that insurers are facing from the wildfires could lead to increased rates how signifi

state farm said it's already received more than 6000 claims from the fires.ompany told ktvu it's focused on helping its customers recover from one of the biggest fire events it's ever experienced in our state. the owner of two gas stations that were recently hit by burglars minutes apart at the same corner in north oakland, says he is frustrated with the city's lack of a response to his concerns. surveillance video from early monday morning at 55th and martin luther king jr way shows burglars using sledgehammers and crowbars to break into a gas station. once inside, they dump boxes of cigarettes into the trash. the same people then went across the street to another gas station and did the same thing. the man who owns both gas stations said he sent letters to the mayor's office and police department and that nothing has happened. >> there's absolutely no help, no support. i know that we have a new mayor. a new da came with a new rhetoric that, you know, change is coming. i haven't seen any change. i can't get anyone to even to comment. they'll do. yeah. they'l

just last year, california's largest home insurer, state farm, canceled tens of thousands of insurancecross the state. nearly 70% of state policyholders in the pacific palisades were dropped from their coverage, only months ago. and now that very community has been decimated. this phenomenon is not exclusive to the golden state. in recent years, insurance companies have also been begun pulling out of hurricane-prone states including florida and louisiana. and it is certainly possible, even likely, that this trend is going to grow, given the stark reality of climate change. joining me now is jeff goodell, veteran climate journalist and author of the best-selling book "the heat will kill you first." jeff, thank you for being here today. first of all, we haven't begun to grapple with the implications of the state farm, for example, dropping coverage for 70% of the pacific palisades. but this is the future that is upon us. and if anything is a wake-up call, do you think that the insurance company is saying you're no longer ensurable. the climate risk is just too high. is that the wake-up c

. 70% of state farm policy holders in the pacific palisades were dropped from their coveragego, and now that very community has been decimated. this phenomenon is not exclusive to the golden state. in recent years, insurance companies have also been pulling out of hurricane prone states including florida and louisiana. and it is certainly possible, even likely, that this trend is going to grow, given the stark reality of climate change. joining me now is jeff good del a veteran climate journalist and author of the "new york times" best keling selling book "the hl kill you first," jeff, thank you for being here tonight. first of all, we haven't begun to grapple with state farm dropping coverage for 70% of the palisades. this is the future that's upon us. if anything is a wake up call, do you think the insurance company saying you're no longer insurable, the climate risk is too high. do you think it's part of a larger trend? are we going to see more and more of this? >> absolutely. the risks of living in this new climate, this hotter, more turbulent climate that we're living in

so that may not account for all of the cancellations that we know state farm handed out in that area. if the fair plan runs out of money to pay these claims -- and by all accounts it probably will -- every insurer that has operated in this state for the last two years will have to pay in proportion to its market share. that means state farm, which has somewhere in the neighborhood of 19% market share in the state, and which canceled about 1,600 policies in the pacific palisades last year, will now have to pay out on claims for which it never collected premiums. not only that, what's going to happen -- i got a big warning on this today, what people thought they were insuring -- say you had a $4 million house in the palisades and you went to your insurer and said i'm going to get this coverage, your insurer may now say because of the inflation of materials, wait a minute, it's going to cost $5 million or $6 million to replace that house, and you only have a policy for $4 million. so there may be a lot of people who are way underinsured and then that sparks the kind of lawsuits that have

how to get lawyers, taxes state farm. all these things. laura: the people are saving themselves. >> shobleging how little. >> laura: the people are saving themselves and their friends are helping other friends but helping making new friends horror of all of this. james, there is a lot in this story, but, one of them, which we'll delve into later why these insurance companies and everyone hates insurance companies i get it. why they pulled out. california has some culpability in that, too. they wouldn't let rates go up even though rates had to go up for them to remain solvent in the state. it's a confluence of events but leadership matters and in the good times but it really matters in the bad times. i wish you and your family the best are you going to fully rebuild in a lot of the location. i know the vulture capitalists are swooping down, too. >> we are rebuilding. i'm doubling down. i love the palisades. >> lawrence: beautiful. >> i think will leadership it can be incredible. if there are people competent running this place there is no r

. >> all of this orinda knows that all too well because last year state farm dropped about 2000 residents in this particular community. as far as los angeles, the fires continue to burn pacific palisades just a couple of months ago, state farm dropped about 1600 customers. i gotta tell you from 2020 to 2022, 2.8 million californians lost their insurance because the carriers refused to renew them. and then in los angeles county, about 531,000 people lost their insurance over that particular span as well. what could happen moving forward is that will continue to happen. also, if you have insurance coverage, your insurance obviously needs to cover for all the other people who lost their homes. so your premiums could go up as well. so big dilemma for california and one more bullet point for people pointing to california saying how expensive it is to live here and why so many people are moving out. back to you. all right. thanks a lot. well. >> 7.12, is the time. and still ahead on the kron, 4 morning news, we're learning more details about the 4 people found dead in a home in santa rosa. (wom

palisades neighborhood that we have been telling you about for days just couple of months ago, state farmpped about 1600 policies and that was before obviously the fires broke out. hopefully those people this morning recovered and found other carriers, if not, they could be obviously extremely devastated for years, if not decades to come with a loss of material and the financial devastation behind all of this. vice president kamala harris. she may remarks about how long the recovery could take place without a carrier. >> sadly, many insurance companies have canceled insurance. for a lot of the families who have been affected and will be affected, which is only going to delay or place an added burden on their ability to recover. >> now the state has stepped in and they have basically and own their own insurance called fair. that forces a whole bunch of carriers to get together and cover a lot of policies within california and down in pacific palisades where one in 5 homeowners they are now covered by the fair insurance. that's the requirement by the state. as far as what's going to happen,

state farm said it's already received more than 6000 claims from the fires.pany told ktvu it's focused on helping its customers recover from one of the largest fire events it's ever experienced in our state. we're learning more about the high school students who were killed in a head on collision in san benito county. all three of the young men were killed and they were students at hollister high school. the coroner identified them as 17 year old angel villegas lemus, 17 year old victor lujan and 18 year old brandon alarcon. a fourth passenger was seriously injured. the 27 year old driver of the other car was also severely injured and is hospitalized. the crash happened on shore road near lake road tuesday night. >> at this point, we have not been able to rule out anything drugs, alcohol, speed as factors in this crash. again, our investigation is literally just begun. >> officials with the school district say grief counselors are being made available to students, teachers and staff. the world is waiting and watching to see if israeli prime minister benjamin

cheryl: steve, i only have about 30 seconds left, but if you look at what happened with state farm inticular, they withdrew and they canceled nearly 70% of the policies that they were covering in the state of california. that's happened over several years. insurance companies are are leaving california, steve. >> and it's a direct result of democrat policies. absolutely disgraceful for kamala harris, who's been totally absent from this. the only thing she said of note was attacking the insurance companies. they're leaving because of democrat policies. there's a total absence of any kind of competent governance in the state of california. that's the change we need to see, and people are waking up to that right now. bill: steve and and liz, we thank you both for joining us. that's going to wrap up our coverage for now of these wildfires which are tearing through los angeles county. the latest numbers, 11 dead, 13 if missing, and the santa ana winds coming back. cheryl, it's been great to be with you. cheryl: bill melugin, thank you for your incredible work in los angeles. "fox news live

insurance dropped by state farm just a couple of months ago. and they had to scramble for other insurance coverage. hopefully they did find a carrier. but this is a problem that is very indicative of california and could be a problem moving forward because from 2020, the 2022 insurance carriers dropped about 2.8 million customers. and in los angeles county, about 531,000 of them said, you know what, we're not going continue covering your house. so what's going to happen is they probably will continue doing that. also, those who have insurance im. very grateful for that. there is a good chance that your premiums could go up to cover the loss and just to make sure that the insurance companies, according to experts, they believe that your coverage could go down. so we will be feeling this for years to come. despite all the wildfires continuing to rage in los angeles. back to you. well, thank you. our parent company nexstar is partnering with the american red cross to launch a donation page for wildfire victims in southern california. >> you can sc

ago in pacific palisades, which still burns right now, 1600 residents in that area also drop by state farm saying it was simply not worth it for them to cover those people, forcing them to scramble. hopefully they did find another carrier that just to give you perspective from 2020 to 2022, in california, 2.8 million americans in california. well, their insurance policy was drop, not renewed, many insurance carriers saying it's not worth it. and in la county, 531,000 of them. they had their policy council as well. so lots going on. they are scrambling as well. and they're turning to the state for help. there is an alternative call fair, which is a state law that forces insurance carriers to get together to cover those people. but the premiums are much higher. and speaking of higher premiums, even if you continue to have fire insurance, there is a chance, according to experts that your coverage could go down, meaning you will not be covered as well as you are right now. so lots to consider in california and many people who are bashing california their same one. the state is terrible and 2,

state farm says that it will offer policy renewals to those affected by the wildfires. the insurance company has taken a lot of criticism during this disaster, as it was just last year when state farm withdrew more than 70,000 policies. insurance policies for homeowners and businesses, citing concerns over wildfire risk and other issues. >> cristina rendon alex savidge in studio. alex, thank you for that. we do know california is trying to go after people who are trying to profit from the wildfires. state attorney general rob bonta says his office is looking into several active reports of price gouging on home rentals. he also sent letters to companies offering short and long term rentals to ensure they are adhering to the law. officials say the price of a rental listing for a four bedroom home in topanga jumped 24% in just the past week. a three bedroom home with a view of the hollywood sign was up 45%. >> we want the message to be clear these are victims. these are people who are reeling and in pain. these are our fellow californians. they deserve us, deserve that. we