Does this CA DOI Statement Make Any Sense to You?

[marindependent]

Does this DOI statment make sense to anyone in P&C?

"People are doing and spending money to make their homes safer, in some case, 1000s of dollars, and insurance companies are still not writing them policies. That's unacceptable. That's what needs to change, and that's the heart of the Sustainable Insurance Strategy," he said." I believe the quote is from "Michael Soller, spokesperson for the California Department of Insurance." Article ABC10 California's Insurance Regulation Could Lead...

Thoughts?

 

[adjusterjack]

Lara is delusional. Insurance reform never makes rates go down, only up.

 

[Allen Trent]

Does this DOI statment make sense to anyone in P&C?

"People are doing and spending money to make their homes safer, in some case, 1000s of dollars, and insurance companies are still not writing them policies. That's unacceptable. That's what needs to change, and that's the heart of the Sustainable Insurance Strategy," he said." I believe the quote is from "Michael Soller, spokesperson for the California Department of Insurance." Article ABC10 California's Insurance Regulation Could Lead...

Thoughts?

Greedy insurance carriers price gouging consumers by not offering them insurance. Making record profits by not collecting premiums.....wait, what?

 

[LeeV]

The key to this sham is what Soller said in the middle of the statement—clearly looking to place the blame on the carriers and cover their backsides.

"Today, there is no requirement that insurance companies write policies in areas of higher risk, starting January 2025 that changes. Once those policies are in place, all eyes go toward the insurance companies."

 

[Riskfreak]

This sounds like a job for the Riskfreak

 

[Allen Trent]

Another greedy carrier in California gouging consumers by not collecting their premiums.

https://ktla.com/news/california/yet-another-insurance-company-is-rolling-back-coverage-in-california/