
Long-shot ballot initiative could have huge effect on California insurance
A proposed ballot initiative would drastically change the way property insurance is regulated in California by repealing a law voters passed almost four decades ago.
Proposition 103 has regulated home, auto and other types of property and casualty insurance in the state since 1988. It requires insurance companies to seek approval from an elected insurance commissioner to raise their premiums, and allows members of the public to object to rate increases.
The initiative — which experts are call...
Proposition 103 has regulated home, auto and other types of property and casualty insurance in the state since 1988. It requires insurance companies to seek approval from an elected insurance commissioner to raise their premiums, and allows members of the public to object to rate increases.
The initiative — which experts are call...