casualty insurance

The Los Angeles County Superior Court suits filed last month name more than 200 insurers and affiliates as defendants, including State Farm, Farmers and Mercury that account for about three quarters of the state’s property and casualty insurance sales.

“This modest, temporary cost recovery — just a few dollars a month for most policyholders — is critical to preventing a catastrophic collapse of California’s insurance market,” said Denni Ritter, vice president for state government relations for the American Property Casualty Insurance Assn. trade group.

The American Property Casualty Insurance Assn. called it a “reckless and self-serving stunt.”

That followed its decision in May 2023 to stop writing new business, homeowners, and other personal property and casualty insurance, though its parent continues to sell personal auto policies.

That followed its decision in May 2023 to stop writing new business, homeowners, and other personal property and casualty insurance in the state.