California Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires, a move he says will help restore insurance options for Californians. It was the latest phase of Lara’s Sustainable Insurance Strategy. …
A recently brewing and critical California issue is the conflict between industry’s desire to file catastrophe rating models to inform California property rates and California’s laws allowing a public inspection of rate filings. A large majority of carriers in the …
This content originally appeared on NCCI’s Insights page. It is used here with permission. Catastrophes in insurance are generally associated with large losses that occur in the property lines of business, such as from natural disasters. However, the workers compensation …
