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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.
Farmers Insurance Exchange was named the leading reciprocal in earned premiums for auto insurance by National Underwriter. [5] 1937. New headquarters building to house the Farmers Automobile Inter-Insurance Exchange and Truck Insurance Exchange, designed by Walker & Eisen in the Moderne style, opens on Wilshire Boulevard.
Starting your own business requires a significant investment of both time and money. Millions of people continue to step up to the challenge with 33 million small businesses active in the U.S. as ...
Commercial insurance for vehicles owned or operated by businesses functions quite similarly to private auto insurance, except that personal use of the vehicle is not covered. Commercial insurance pricing is also usually higher than private insurance, due to the expanded types of coverage offered for commercial users. [2]
California insurers will be required to sell coverage in wildfire-prone regions that have seen an insurer exodus in recent years, state Insurance Commissioner Ricardo Lara announced Monday. Under ...
Some of the nation's largest truck makers on Thursday pledged to stop selling new gas-powered vehicles in California by the middle of the next decade, part of an agreement with state regulators ...
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.
Talk to your insurance agent: You may have some coverage through your auto, home or renters insurance policies — or you and your belongings may be completely uninsured in your rental truck ...
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