Business News
SACRAMENTO – California Insurance Commissioner Dave Jones announced that Proposition 103, which became law 30 years ago, has saved California drivers $154 billion on their auto insurance and has lowered auto liability premiums in California by 5.7 percent according to an analysis by Consumer Federation of America.
Proposition 103, passed by California voters in November 1988, establishes the Insurance Commissioner's authority to reject excessive rate increases sought by insurance companies.
The law requires the "prior approval" of California's Department of Insurance before insurance companies can implement property and casualty insurance rates.
Prior to Proposition 103, automobile, property and casualty insurance rates were set by insurance companies without approval by the Insurance Commissioner.
"As insurance commissioner and the leader of the largest consumer protection agency in the state, my top priority is protecting consumers," said Commissioner Jones. "California voters gave me the responsibility under Proposition 103 to make sure that insurance companies do not charge consumers rates that are excessive. I am proud that actions by my department has continued to protect consumers and save them billions of dollars by lowering insurance rates."
Since Commissioner Jones took office in 2011, the California Department of Insurance has processed over 54,000 property and casualty insurance rate filings under Proposition 103, reduced the overall amount of requested rate increases by $1.5 billion and obtained over $1.9 billion in rate reductions, totaling over $3.4 billion in savings to California consumers and businesses. This total includes approximately $1.26 billion in rate reductions for personal auto coverage and $947 million in rate reductions for personal homeowners' coverage.
Last year the department's consumer hotline received over 147,000 calls for assistance. Through the department's complaint handling efforts, staff recovered more than $62.4 million for consumers in 2017. Additionally, the department performed 125 market conduct examinations, resulting in more than $18.9 million in recovered claims or premiums being returned to consumers.
Since Commissioner Jones took office in 2011, more than $469 million has been returned to consumers through consumer complaint investigations and market conduct examinations of insurance companies.
Proposition 103, passed by California voters in November 1988, establishes the Insurance Commissioner's authority to reject excessive rate increases sought by insurance companies.
The law requires the "prior approval" of California's Department of Insurance before insurance companies can implement property and casualty insurance rates.
Prior to Proposition 103, automobile, property and casualty insurance rates were set by insurance companies without approval by the Insurance Commissioner.
"As insurance commissioner and the leader of the largest consumer protection agency in the state, my top priority is protecting consumers," said Commissioner Jones. "California voters gave me the responsibility under Proposition 103 to make sure that insurance companies do not charge consumers rates that are excessive. I am proud that actions by my department has continued to protect consumers and save them billions of dollars by lowering insurance rates."
Since Commissioner Jones took office in 2011, the California Department of Insurance has processed over 54,000 property and casualty insurance rate filings under Proposition 103, reduced the overall amount of requested rate increases by $1.5 billion and obtained over $1.9 billion in rate reductions, totaling over $3.4 billion in savings to California consumers and businesses. This total includes approximately $1.26 billion in rate reductions for personal auto coverage and $947 million in rate reductions for personal homeowners' coverage.
Last year the department's consumer hotline received over 147,000 calls for assistance. Through the department's complaint handling efforts, staff recovered more than $62.4 million for consumers in 2017. Additionally, the department performed 125 market conduct examinations, resulting in more than $18.9 million in recovered claims or premiums being returned to consumers.
Since Commissioner Jones took office in 2011, more than $469 million has been returned to consumers through consumer complaint investigations and market conduct examinations of insurance companies.
- Details
- Written by: California Department of Insurance
SACRAMENTO – The California State Board of Food and Agriculture will gather in Kern County on Nov. 6 to hear from local area farmers and associations on key issues impacting the agricultural community.
The meeting will be held from noon to 2:30 p.m. at Grimmway Farms, 12062 Buena Vista Blvd. (Fitness/Conference Center) in Arvin.
Prior to the afternoon meeting, the board will tour the Kern Water Bank, in coordination with the Kern Groundwater Authority, and visit field/processing facilities at Grimmway Farms.
“Kern County is one of California’s largest agricultural regions with more than $7 billion in annual value,” said CDFA Secretary Karen Ross. “It is also a critically overdrafted groundwater basin, where local communities are making significant strides toward sustainable groundwater management. As we look to the future of agriculture in our state, the experiences and insight from local-area farmers and ranchers on issues related to water, food safety and production are important takeaways for our larger agricultural community.”
Invited speakers include: Teresa Siles, Nuffer, Smith, Tucker Public Relations; Scott Horsfall, California Leafy Greens Marketing Agreement; Rob Yraceburu, Wonderful Orchards; Edwin Camp, D.M. Camp & Sons/Arvin-Edison Water Storage District and Under Secretary Gregory Ibach, U.S. Department of Agriculture’s Marketing and Regulatory Programs.
“Bringing the State Board to the Bakersfield area to visit agricultural production facilities, tour groundwater projects, and hear from local area farmers is essential,” said President Don Cameron, California State Board of Food and Agriculture. “We have an amazing state and diverse agricultural industry and with that there is a variety of regional issues that impact farm production. I look forward to hearing from our stakeholders and engaging with the local community.”
The California State Board of Food and Agriculture advises the governor and the CDFA secretary on agricultural issues and consumer needs. The state board conducts forums that bring together local, state and federal government officials, agricultural representatives and citizens to discuss current issues of concern to California agriculture.
All meetings are open to the public and attendance is welcome.
Follow the board on Twitter at: www.twitter.com/Cafood_agboard.
The meeting will be held from noon to 2:30 p.m. at Grimmway Farms, 12062 Buena Vista Blvd. (Fitness/Conference Center) in Arvin.
Prior to the afternoon meeting, the board will tour the Kern Water Bank, in coordination with the Kern Groundwater Authority, and visit field/processing facilities at Grimmway Farms.
“Kern County is one of California’s largest agricultural regions with more than $7 billion in annual value,” said CDFA Secretary Karen Ross. “It is also a critically overdrafted groundwater basin, where local communities are making significant strides toward sustainable groundwater management. As we look to the future of agriculture in our state, the experiences and insight from local-area farmers and ranchers on issues related to water, food safety and production are important takeaways for our larger agricultural community.”
Invited speakers include: Teresa Siles, Nuffer, Smith, Tucker Public Relations; Scott Horsfall, California Leafy Greens Marketing Agreement; Rob Yraceburu, Wonderful Orchards; Edwin Camp, D.M. Camp & Sons/Arvin-Edison Water Storage District and Under Secretary Gregory Ibach, U.S. Department of Agriculture’s Marketing and Regulatory Programs.
“Bringing the State Board to the Bakersfield area to visit agricultural production facilities, tour groundwater projects, and hear from local area farmers is essential,” said President Don Cameron, California State Board of Food and Agriculture. “We have an amazing state and diverse agricultural industry and with that there is a variety of regional issues that impact farm production. I look forward to hearing from our stakeholders and engaging with the local community.”
The California State Board of Food and Agriculture advises the governor and the CDFA secretary on agricultural issues and consumer needs. The state board conducts forums that bring together local, state and federal government officials, agricultural representatives and citizens to discuss current issues of concern to California agriculture.
All meetings are open to the public and attendance is welcome.
Follow the board on Twitter at: www.twitter.com/Cafood_agboard.
- Details
- Written by: California State Board of Food and Agriculture
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