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Under the new regulations, companies must make their services available in high-risk areas to do business in the state, the first such requirement in California history. Insurers must…
Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at ...
That would mean that an insurer that has a 10% share of California's home insurance market would have to write 8.5% of the policies in such neighborhoods. The department released preliminary maps ...
Its market share spiked to over 50 percent in years 2002–2004 when a large number of private carriers left the market. In keeping with its mission, State Fund has an open-door policy, writing insurance for California businesses that need workers' compensation insurance. State Fund insures [6] approximately 130,000 policyholders in California.
Consumer Watchdog has argued that the review process will still allow the modeling companies and their client insurance companies to keep essential elements of the proprietary models out of the ...
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.
As of 2017, 11 insurance companies offer plans through Covered California, however depending on the county in which an individual lives, the number of insurers can vary from two to seven. [32] A 2015 California Healthcare Foundation study found that the number of hospitals in an insurance network did not significantly affect the quality of care ...
California is the only state that forces companies to do so. If companies don’t meet either of the thresholds laid out in Wednesday’s announcement, the department could revoke an insurers ...
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