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VC Star – Elias: Planned insurance rule makes consumer reviews meaningless

By Thomas Elias, VC STAR https://www.vcstar.com/story/opinion/2024/06/03/elias-planned-insurance-rule-makes-consumer-reviews-meaningless/73937497007 In the insurance business, there are different kinds of black boxes. One is literally a small black box usually inserted in a car’s cigarette lighter socket that records exactly how a driver behaves and...

CalMatters – Newsom Seeks to Speed Up Rate Reviews to Fix California’s Battered Homeowners Insurance Marketplace

By Levi Sumagaysay, CALMATTERS https://timesofsandiego.com/business/2024/06/02/newsom-seeks-to-speed-up-rate-reviews-to-fix-californias-battered-homeowners-insurance-marketplace/ Gov. Gavin Newsom has proposed legislation to speed up insurance premium rate reviews as he and the Insurance Department try to fix the state’s battered insurance market.  Last fall, Newsom issued an executive order tasking Insurance...

The San Francisco Standard – ‘People are freaking out’: Newsom’s insurance crisis bill lets carriers hike rates faster

By Jillian D’Onfro, THE SAN FRANCISCO STANDARD https://sfstandard.com/2024/05/30/california-insurance-crisis-new-newsom-trailer-bill Gov. Gavin Newsom just released part of his solution to California’s home insurance crisis, and it boils down to a push to allow carriers to move faster to raise rates. As the state...

Sacramento Bee – Newsom administration releases plan that could speed up California insurance price increases

By Stephen Hobbs, SACRAMENTO BEE https://www.sacbee.com/news/politics-government/capitol-alert/article288612641.html Gov. Gavin Newsom's administration released a highly-anticipated proposal meant to speed up California's review of price increases for home and automobile coverage that the governor said weeks ago was needed to provide urgent help...

San Francisco Chronicle – Newsom wants to ‘stabilize’ California’s insurance market. Here’s how it would work

By Megan Fan Munce, SAN FRANCISCO CHRONICLE https://www.sfchronicle.com/california/article/newsom-home-insurance-19484197.php# Gov. Gavin Newsom has provided new details this week on his proposal to bolster California’s insurance market by speeding state approval for insurers’ rate increase requests. The Department of Insurance is required to review all rate...

Insurance Journal – New Language in California Budget Seeks to Expedite Insurance Rate Filing Approvals

By Insurance Journal Staff https://www.insurancejournal.com/news/west/2024/05/29/776151.htm#:~:text=The%20new%20proposal%20requires%20the,suggested%20rate%20in%20120%20days. Insurers are praising new trailer bill language in the California budget that promises to expedite the home and auto insurance rate filing approval process. California Gov. Gavin Newsom first made the proposal to speed up the rate filing...

Mercury News – Newsom’s plan to accelerate rate hikes ‘invites insurance companies to set their own prices,’ advocacy group contends

By Ethan Baron, MERCURY NEWS https://www.mercurynews.com/2024/05/29/newsoms-plan-to-accelerate-rate-hikes-invites-insurance-companies-to-set-their-own-prices-advocacy-group-contends/ Gov. Gavin Newsom's new proposal to speed approval of rate hikes for most types of property insurance and help stabilize a collapsing market will cost Californians billions of dollars, consumer advocates said Wednesday. Insurers contend...

CalMatters – Newsom unveils plan that would hasten insurance – rate reviews — and increases

By Levi Sumagaysay, CALMATTERS https://calmatters.org/economy/2024/05/california-insurance-crisis-2 Gov. Gavin Newsom has proposed legislation to speed up insurance premium rate reviews as he and the Insurance Department try to fix the state’s battered insurance market.  Last fall, Newsom issued an executive order tasking Insurance...

KCBS-AM (Radio) – San Francisco, CA: The Governor’s New Insurance Plan Will Not Get Insurance Companies To Cover Californians

By Staff Reporters, KCBS-AM – San Francisco, CA  Click below to listen to the audio of this radio broadcast segment.

KPCC-FM (Radio) – Los Angeles, CA: Harvey Rosenfield In Opposition Of Governor Newsom’s Draft Of Insurance Bill

By Staff Reporters, KPCC-FM – Los Angeles, CA  Click below to listen to the audio of this radio broadcast segment. Part 1 Part 2

Politico – How Newsom Ending Up Siding With Insurers

By Camille Von Kaenel, POLITICO https://www.politico.com/newsletters/california-playbook-pm/2024/05/29/how-newsom-ended-up-siding-with-insurers-00160534?nname=california-playbook-pm&nid=00000177-6f21-d412-abff-6ff78f190000&nrid=0000014f-890a-d780-a9ef-9d7a82c30000&nlid=2693079 HITTING A CRISIS POINT: The wildfire insurance problem in California has gotten so bad that Gov. Gavin Newsom is taking a counter-intuitive stance for a top Democrat: siding with industry in its long-standing feud...

The Los Angeles Times – California consumer group blasts insurance bill backed by Newsom

By Laurence Darmiento, LOS ANGELES TIMES https://www.latimes.com/business/story/2024-05-29/consumer-group-blasts-insurance-bill-backed-by-gov-newsom A bill backed by Gov. Gavin Newsom that is intended to halt more exits from California’s troubled homeowners insurance market by speeding up reviews of proposed rate hikes drew sharp criticism Wednesday from...

KNX-AM (Radio) – Los Angeles, CA: Governor Gavin Newsom Proposed Reforms To The Insurance Rate Hike Review Process

By Staff Reporters, KNX-AM – Los Angeles, CA  Click below to listen to the audio of this radio broadcast segment.

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