“Once the carriers see the changes that are going to be happening, they will start coming back into the state,” says Mark Robinson, co-founder of law firm Michelman & Robinson and leader of the firm’s regulatory practice group. “It's obviously a huge market, but they need to have the rates in order for them to not lose money. So they need to be able to rate the fire areas appropriately.” Credit: jdoms/Adobe Stock “Once the carriers see the changes that are going to be happening, they will start coming back into the state,” says Mark Robinson, co-founder of law firm Michelman & Robinson and leader of the firm’s regulatory practice group. “It’s obviously a huge market, but they need to have the rates in order for them to not lose money. So they need to be able to rate the fire areas appropriately.” Credit: jdoms/Adobe Stock

While California’s property insurance reform proposals are yet to be ironed out, the industry is striking an overall optimistic note on the suite of changes being offered up by the state’s insurance regulator, industry sources tell PropertyCasualty360.com.

“My initial reaction was very positive that the department of insurance is taking steps to fix the property insurance issues in California and revising some of the regulations to allow insurance companies to get rate increases that they need in order to stay in the state and continue writing,” says Mark Robinson, co-founder of law firm Michelman & Robinson and leader of the firm’s regulatory practice group.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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