California homeowners insurance regulations proposed by Insurance Commissioner John Garamendi would result in higher premiums for many residents, insurance industry trade groups testified yesterday.
The Personal Insurance Federation of California and the American Insurance Association also said at a California Insurance Department hearing yesterday in San Francisco that the measures would force insurers to charge unfair homeowners rates and cause subsidies among policyholders.
Gene Livingston of Greenberg Traurig, LLP, testifying on behalf of PIFC and AIA, asserted the commissioner proposed similar regulations twice in the past and both times the courts struck him down.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
