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Insurance

Feb. 10, 2025

Shining light on Proposition 103 by the California Department of Insurance

California's Bulletin 2024-14 clarifies Proposition 103, outlining insurers' duties on lowest premiums, rate filings, credit card fees, wildfire mitigation discounts, and group insurance plan rules.

Michael Rosenfield

Partner
Sidley Austin LLP

Shining light on Proposition 103 by the California Department of Insurance
Shutterstock

Although California's Proposition 103 has been around since November 1988 and has been subject to much litigation and administrative action, it's always helpful when the California Department of Insurance (CDI) shares its view on topics that the Proposition covers. Under Proposition 103, property and casualty insurers are required to submit a prior approval rate application to the CDI before implementing new or changing existing rates. On Nov. 25, 2024...



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