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
Joint Hearing Insurance and Select Committee on Wildfire Prevention Read More »
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
Second Catastrophe Modeling Workshop Read More »
PIFPAC agents quickly and successfully organized around a recent issue we identified in the Rural Caucus of the California Democratic Party (CADem). The Caucus proposed adding to the CADem platform: “Prevent insurance companies from cancelling or declining to offer homeowner, property, and fire insurance policies, and bolster the state-funded insurance of last resort (e.g. FAIR
PIFPAC Wins at CADem Rural Caucus! Read More »
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.
Special Elections & Committee Changes Read More »
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