Prop 103 News

California Commissioner Holding Hearing on Homeowners Rates in Wake of Wildfires

California Insurance Commissioner Ricardo Lara said today that he will convene an investigatory hearing in October in advance of initiating a series of regulatory actions that will protect residents from the increasing risk of wildfires. His announcement comes as devastating …

California Consumer and Insurer Groups Square Off Over Homeowner Insurance Bill

A consumer group is warning that homeowners could pay billions more for their home insurance under what it calls an “insurance industry legislative attack on California’s effective rate regulation.” Assembly Bill 2167 would allow homeowners insurance companies to hike rates …

Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions

The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer Federation of America reported on Wednesday …

California Says Insurers Must Pass Tax Savings on to Policyholders

Insurance companies writing in California were sent a notice by the California Department of Insurance reminding them that under Proposition 103 their rates must not be excessive, inadequate, or unfairly discriminatory. The recent revision to the Federal Tax Schedule for …

California Court Denies Review of Insurer Challenge to Commissioner’s Advertising Decision

The California Supreme Court this week rejected a petition for review by Mercury Insurance and a coalition of insurance industry groups in a case that pitted them against California Insurance Commissioner Dave Jones. The California Department of Insurance hailed the …

Watchdog Group Wants California to Look into Claims in ProPublica Report

Consumer Watchdog, a California-based advocacy group, is asking the state’s insurance commissioner to open an investigation into the alleged redlining uncovered by a ProPublica report that claims that four auto insurance companies in California mark up prices by as much …

California Judge Denies State Farm’s Request to Delay Rate Reduction Order

Superior Court Judge Katherine Bacal has denied State Farm’s request for a temporary restraining order in an attempt to delay California Insurance Commissioner Dave Jones’ enforcement of his order directing the carrier to reduce homeowners and renters rates by 7 …

State Farm Agrees to Cut Rental Rates in California by 40%

California Insurance Commissioner Dave Jones on Wednesday announced he has obtained an agreement from State Farm General Insurance Co. to reduce their rental dwelling program policyholders’ rates statewide by an average of 40 percent. The reduction is to be effective …

California Watchdog Group Wants State Farm to Reduce Rates by 40%

Consumer Watchdog filed a petition in California challenging State Farm’s proposed rates for its homeowners insurance and wants the insurers to cut its rates by as much as 40 percent. The Santa Monica, Calif.-based consumer group said insurer will be …

California Consumer Group Seeks Enforcement Action Against Geico

The Consumer Federation of California is alleging that Geico Insurance Co. illegally quotes higher minimum automobile coverage levels than permitted under state law to unmarried, lower or moderate-income motorists The allegations were made in a petition filed Thursday with the …