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Consumer advocates want California's attorney general to investigate some insurance companies

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Consumer Watchdog said the companies are colluding to raise rates for homeowners in California. The advocacy group said their proof is in a recording made on an airplane flight last week.

for months now, several insurance companies have stopped selling new homeowner policies in California, while others have placed restrictions on the policies they sell. The companies have cited the high cost of insuring homeowners who live in areas prone to wildfire. Real estate agents have said the difficulties in getting insurance have made home sales more difficult.

"So, we believe that constitutes price fixing. If a company is pulling out of a market that they’re profiting well in, and they’re doing it in concert with other companies to jack up premiums, isn’t that price fixing?” Court asked.

 

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