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Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
To understand why the insurance industry is spiraling in California, consider Proposition 103. Passed by voters in 1988, the law was meant to protect consumers by preventing insurers from ...
Delay, Deny, Defend is a critical exploration of the property and casualty insurance industry, examining how its practices affect policyholders.Feinman, a law professor specializing in consumer rights and insurance law, argues that the industry prioritizes profits over policyholders' needs, often using tactics like delaying or denying legitimate claims to bolster financial performance.
According to the industry's Insurance Information Institute, California’s insurers paid out $1.08 in claims and claims-related expenses for every dollar collected in premiums between 2013 and 2022.
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.
The assassination of UnitedHealthcare CEO Brian Thompson cast a harsh spotlight on the controversial practices of the health insurance giant, which has long been accused of prioritizing profits ...
The registry was created to require insurance companies to disclose any historical data regarding slavery insurance policies they might have from the early days of California for the purposes of historical research, genealogy, and to preserve any evidence which might be material to reparations claims.
The state Department of Insurance issued a new regulation last month meant to turn the tide of some of the largest insurance companies' refusal to take on new customers in California or decisions ...