Could The Cure For California's Insurance Crisis Be Worse Than The Disease? [Yahoo! Finance]
Allstate Corporation (The) (ALL)
Last allstate corporation (the) earnings: 2/4 06:08 pm
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Source: Yahoo! Finance
To stop more insurers from leaving the state, California Insurance Commissioner Ricardo Lara has proposed sweeping changes that would give insurers greater flexibility to increase homeowner premiums. However, his predecessors fear the proposed cure could be worse than the disease. California Insurance Commission Makes Huge Concessions Lara's plan would allow the state's remaining insurers to use predictive modeling for climate-based catastrophes like wildfires as justification for raising premiums. That would be a major change in state policy because California's current insurance regulations limit insurers to using historical data on the cost of covering claims as a basis for premium increases. The ability to use climate modeling in calculating rate increases is not the only concession Lara granted the industry. Current California law requires that any across-the-board premium increase by insurers must be approved by regulators. This requirement has always been a bitter pill to
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Earnings
- 5/1/24 - Beat
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Sec Filings
- 5/15/24 - Form 8-K
- 5/10/24 - Form 13F-HR
- 5/1/24 - Form 10-Q
- ALL's page on the SEC website