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This was a positive year defeating bad ideas to come out of the Legislature. Extensive efforts on the part of PIFC lobbyists, PIFPAC members, and numerous stakeholders proved successful in defeating SB 1060 (Becker). The bill is inconsistent with both the Sustainable Insurance Strategy proposed by the Insurance Commissioner and the recently adopted CDI Safer […]

On the regulatory front, CDI endeavors to execute the various regulations necessary to implement the Commissioner’s Sustainable Insurance Strategy.  Following the disappointing announcement of the Complete Rate Application, which PIFC strongly opposes, CDI has announced draft regulations that would allow insurers to use forward-looking Catastrophe (CAT) modeling in their ratemaking. Since Commissioner Lara announced the

On Monday, October 9, the Assembly Insurance Committee held a joint hearing with the Assembly Select Committee on Wildfire Prevention. The hearing was held in Santa Rosa, CA. The purpose of the hearing was to focus on wildfire risk and resiliency, and whether those two factors can lead to insurance market recovery. Assembly Insurance Committee

On Thursday, September 28, the California Department of Insurance (CDI) held a second workshop on the topic of catastrophe modeling. CDI started off with a brief presentation regarding the path that led to this second workshop.  They highlighted a few observations on public input from the first workshop that focused on (1) appropriate degree of

Senate District 30 PIFC will be closely watching the race for the vacant seat in Senate District 30. This was Holly Mitchell’s seat, but Senator Mitchell will be transitioning to a new role as Supervisor in Los Angeles County. Current Assemblymember and PIFC endorsed candidate Sydney Kamlager is expected to run for Senate District 30.