Prop 103 is a colossal failure. It should expire and California could begin effective regulation. Create an open and fair marketplace where insurers want to be in your state. Ultimately, insurers are changing behavior. People will stop building and rebuilding in high risk areas once insurance is no longer available, can’t get a loan, real estate shuts down.
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As the CEO of III implied recently, policy makers have the ability to make certain insurance markets far less attractive to carriers.
Prop 103 is a colossal failure. It should expire and California could begin effective regulation. Create an open and fair marketplace where insurers want to be in your state. Ultimately, insurers are changing behavior. People will stop building and rebuilding in high risk areas once insurance is no longer available, can’t get a loan, real estate shuts down.