As focus turned to coronavirus crisis, insurers pushed for a sneaky rate hike on homeowners

[Zorro]

We view this really as an industry wish list. BRYANT HENLEY, DEPUTY CALIFORNIA INSURANCE COMMISSIONER

It’s fair to say that most Americans see the coronavirus pandemic as an enormous and fearsome burden.

Not the insurance industry. In California, the industry is using the crisis to bring about a sneaky change in insurance rules that could lead to massive increases in homeowner premiums.

The insurers’ instrument is a bill that has quietly sailed through the state Assembly during the coronavirus lockdown.

AB 2167 would strip the state’s elected insurance commissioner of many important powers, effectively eviscerating key consumer protection provisions of the state’s landmark Proposition 103 insurance reform measure, which has been the law for more than three decades.

https://www.latimes.com/business/story/2020-06-19/insurers-coronavirus-rate-hike

[Wellstone ruled]

1. There was a Bloomberg story

in early May talking about major Premium Increases for both Property Casualty as well as Health as well as Life Insurance.