This feels like micromanagement again based on assumptions and political optics. Companies that chose to continue to do business in CA may need more reserves. Annual thinking may not allow long term rational decisions. California “orders” limits choice, hopefully some of “federal income savings” will be used to pay employees and build the financial strength of carriers!
We really need to have the CA insurance commissioner be non elected position (like most western states). Enough is enough.
Isn’t the commissioners powers somewhat limited with respect to WC? Last I knew-and things might have changed, WC insurers could still do pretty much what they want in terms of rates-WCIRB might file advisory rates but each carrier can do what they want in terms of setting rates and LCMs, correct?
This feels like micromanagement again based on assumptions and political optics. Companies that chose to continue to do business in CA may need more reserves. Annual thinking may not allow long term rational decisions. California “orders” limits choice, hopefully some of “federal income savings” will be used to pay employees and build the financial strength of carriers!
We really need to have the CA insurance commissioner be non elected position (like most western states). Enough is enough.
Isn’t the commissioners powers somewhat limited with respect to WC? Last I knew-and things might have changed, WC insurers could still do pretty much what they want in terms of rates-WCIRB might file advisory rates but each carrier can do what they want in terms of setting rates and LCMs, correct?