In the past few years, 7 crucial insurance carriers have either ceased property coverage in the State of California or severely reduced the coverages offered. On Friday, September 22, 2023, the California Insurance Commissioner announced key changes to the insurance industry in an effort to bring these carriers back.
The question is, will it work? Rex Frazier, President of the Personal Insurance Federation of California (PIFC), discusses these proposed ideas in detail and outlines what the โcatchesโ are.
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