Search results
Results from the WOW.Com Content Network
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
[A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...
Data analyzed by the insurance comparison website Insurify showed the average annual cost of full coverage in California was $2,417 as of June, up from $1,666 the year before.
Key takeaways. California drivers must at least meet the liability auto insurance coverage requirements of 15/30/5 to drive legally. You can be fined up to $500 out of pocket if you are convicted ...
If you can’t afford car insurance or fulfill any of the other mentioned options for financial responsibility, California does offer a Low-Cost Auto Insurance Program as an alternative. Under ...
The California insurance commissioner has been an elected executive office position in California since 1991. Prior to that time, the insurance commissioner was appointed by the governor. The officeholder is in charge of the California Department of Insurance. The current insurance commissioner is Democrat Ricardo Lara.
For example, the nearly 350-year-old insurance market, Lloyd’s of London—where women were allowed onto its floor only from 1973 onward—was forced into making changes in early 2019, when a ...