"In 2019, the loss ratio for auto theft claims was 90%, meaning for every dollar collected, 90 cents was paid out in claims.

U.S. new-car sales in 2024 rise due to replenished inventories, higher incentives, and surging demand for hybrids, with sales nearing 16 million vehicles. Hybrid vehicles see a significant gain, while ...

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The commissioner’s office said the requirement will be limited to California, so in-state consumers will not be on the hook for the insurance costs of other high-risk areas, like the Gulf Coast.

In recent years, wildfires have been costly, which has pushed several insurance companies to pull coverage out of the state, especially in areas at high risk for wildfires. The regulation ...