Browsing: Proposition 103

A recent emergency rate hike for State Farm in California highlights the state’s long-standing issues with insurance regulations and the consequences of artificially suppressing rates.

Insurance Commissioner Ricardo Lara is quietly working to address California’s insurance challenges, including the fallout from wildfires and the impact of Proposition 103.

State Farm’s decision to stop writing new policies in California highlights the escalating crisis in the state’s homeowners insurance market, fueled by wildfire risks and regulatory constraints. Insurance Commissioner Ricardo Lara and industry experts discuss the future.

An analysis of how California’s Proposition 103, particularly the role of intervenors, continues to impact the state’s insurance market, suppressing rates and distorting risk assessment.