Will he then also allow companies to use hindsight to bill all their customers for their prorated cost of the wildfire losses in 2018, 2019 and 2021? Total losses for just those 3 years wiped out the Underwriting Profit accumulated in the prior 20 years. Once companies do comply with this new request for information, it will still be 6 months or more for the department to review and approve the rates filings that were made in 18 months ago. The information will already outdated, and based on the rates needed 2 years prior. We need to change the position of Insurance Commissioner back to an appointed office and get the politics out of the equation.
Will he then also allow companies to use hindsight to bill all their customers for their prorated cost of the wildfire losses in 2018, 2019 and 2021? Total losses for just those 3 years wiped out the Underwriting Profit accumulated in the prior 20 years. Once companies do comply with this new request for information, it will still be 6 months or more for the department to review and approve the rates filings that were made in 18 months ago. The information will already outdated, and based on the rates needed 2 years prior. We need to change the position of Insurance Commissioner back to an appointed office and get the politics out of the equation.