How can insurance in California be reformed? Industry experts and consumer advocates weigh in

That is not everyone's take. Karl Susman, a West Los Angeles insurance broker and expert. "I'm happy to say, for the first time in probably three or four years that I've been jumping on shows like this and giving my two cents. I'm optimistic that things are finally taking a turn in the right direction," he says."At the end of the day, again, we're just looking at math. Nobody is doing anything fancy. Nobody is doing anything underhanded.

To increase rates by looking forward, rather than back, using undisclosed data that can't be challenged by regulators.To charge consumers for reinsurance. That is the insurance that insurance companies buy in order to spread out their risk. Currently, reinsurance is considered simply the cost of doing business.

"The insurance companies, under the disguise of claiming they can't afford the risk of climate change, want the legislature to, number one, roll back all the protections of Proposition 103 that have kept rates low for the last 35 years," Rosenfied says. Karl Susman sees it differently. "The timing of it is nefarious-feeling, but doesn't necessarily mean that the outcome is going to be dramatically different than it would have been had it taken, you know, a long drawn-out period of time," he says.7OYS's consumer hotline is a free consumer mediation service for those in the San Francisco Bay Area.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

As Southern California real estate cools, so does the industry’s hiringProperty industries added 2,400 positions in July – vs. an average 6,800 hires on average.
Source: ladailynews - 🏆 332. / 59 Read more »

Colorado cannabis industry sees positives, drawbacks to marijuana reclassificationThe US Department of Health and Human Services (HHS) on Thursday recommended that the Drug Enforcement Administration (DEA) move marijuana from a Schedule I to Schedule III controlled substance.
Source: DenverChannel - 🏆 239. / 63 Read more »

Op-ed: Foreign-made tin products are killing another vital U.S. industryNone of this would happen if the U.S. enforced trade laws and prevented China from flooding markets with cheaply made tin.
Source: chicagotribune - 🏆 8. / 91 Read more »

New LA homeless measure would ‘destroy’ hotel industry ‘overnight,’ harm guests: AHLA PresidentAmerican Hotel & Lodging Association President Chip Rogers said the new Los Angeles ballot measure to house homeless in hotels is 'dangerous' for guests.
Source: FoxNews - 🏆 9. / 87 Read more »

The auto industry’s Congress member is worried about losing the EV race to ChinaRep. Debbie Dingell (D-MI) says the US is at risk of becoming too dependent on China for EV materials. As for her Republican colleagues, she says don’t expect any help on the shift to electric.
Source: verge - 🏆 94. / 67 Read more »

Explore the monthly jobs report data by industry using MarketWatch's toolMarketWatch's interactive table will show you which industries have gained and lost employees from the previous month
Source: MarketWatch - 🏆 3. / 97 Read more »