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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.
Bankrate teaches you the ins and outs of California’s car insurance laws. ... At least a state-minimum car insurance policy. A cash deposit of $35,000 to the DMV.
California is as car crazy as ever, with insurance rates increasing to match. Data analyzed by the insurance comparison website Insurify showed the average annual cost of full coverage in ...
As the Palisades and Eaton fires wreak havoc on Los Angeles, the state insurance commissioner is taking action to protect home insurance policy owners California bars insurers from dropping fire ...
Proposition 103 also made the California Insurance Commissioner an elected official, subjected insurers to California's antitrust laws, civil rights laws and unfair business competition law. It also included a provision for "intervenor fees," which has resulted in payments to Rosenfield and his organizations of more than $6 million. [citation ...
The number of policies California FAIR has written in that community’s zip code increased 84% in the 12 months ending in September, according to the program’s database. ... nonpartisan ...
An insurance company can set its own installment fee amount, even if the installment fee is higher than what the company is being charged to process your payment. Consider potential savings