X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Property and casualty insurers in California have been notified by insurance commissioner Dave Jones that “price optimization” in setting rates is discriminatory and violates state law.

According to the commissioner, the practice in essence bases what a group of individuals will pay for insurance on their “willingness to pay a higher premium relative to other individuals or classes.” Customers less likely to compare prices for policies in a particular area may find themselves paying more for the same coverage offered at a lower price in a different jurisdiction because those residents are savvier when it comes to shopping for rates.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

The British Legal Awards 2021Event

Celebrating achievement, excellence, and innovation in the legal profession in the UK.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.