/PRNewswire/ A proposal released by Governor Newsom yesterday would undercut independent public scrutiny of insurance rate increases and jeopardize savings.
The state s insurance commissioner denied the N.C. Rate Bureau s request for a statewide average increase of 49.9% for mobile home casualty policies over a three-year period.
A bill backed by Gov. Newsom to grant home insurers faster rate hikes to keep them from fleeing California could lead to excessive increases, a consumer group says.