Insurance
Sep. 14, 2023
Officials look for new ways to shore up fire insurers
“We are concerned the commissioner will try to produce emergency regulations that allow companies to unreasonably pump their premiums based on black box models and passing on their reinsurance costs,” said Jamie Court of Consumer Watchdog.
State officials aren’t giving up on reaching a deal they say will help keep insurers writing policies in California.
Insurance Commissioner Ricardo Lara announced Wednesday his office would pursue “regulatory solutions” to the crisis.
On Tuesday, Assembly Speaker Robert Rivas, D-Salinas, announced “a series of public hearings this fall” to address California’s “insurance availability crisis.”
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