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LOS ANGELES, May 6, 2020 /PRNewswire/ --While the rest of the state is sheltering at home, lobbyists for the insurance industry are busy promoting legislation, scheduled for a hearingtomorrow,that wouldallow them toboostinsurance rates on homeowners and renters. The bill would derailvoter-approved protections againstinsurance price-gougingandfails to address insurers' growing refusal to sell insurance in wildfire areas. "The Sacramento insurance lobby is cynically exploiting two crises the pandemic and the wildfires to win from the legislature what they lost at the ballot box years ago the right toprice-gougeandtake arbitrary rate actions againstentire communitiesthatthe insurance industry says are too risky,"said Harvey Rosenfield, the author of Proposition 103, and founderof Consumer Watchdog. "This legislation does nothing to address the many insurance company abuses non-renewals, failure to pay claims, and skyrocketing rates that have afflicted homeowners in and around wildfire areas," said Michael Mattoch, Sacramento counsel for Consumer Watchdog. Insurance Companies, Losers Thirty Years Ago, Ask Allies in Legislature to Overturn Proposition 103 On Thursday, the Assembly Insurance Committee, chaired by Orange County Assemblymember Tom Daly, will hear two bills backed by the insurance industry that will allow insurance companies tosidestep Proposition 103's stringent controls on profiteering by the insurance industry.The voter-approved insurance reformsrequireall home, auto and businessinsurance companies toapply for rate increases; they must open their books topublicscrutiny andprovethat the rate increases are fairin order to obtain the Insurance Commissioner's approval of the rate change. AB 2167, authored by Daly, and companion bill SB 292, authored by state Senator Susan Rubio, would allow insurance companies toevade these consumer protections andraise premiumsfor homeowners insurance behind closed doors, without complying with Proposition 103's rules against price-gouging. The bills would allow insurance companies to make policyholders pay new surcharges for reinsurance that insurers may not pass on to consumers under current law. The bills would also allow insurance companies to use secret "models," developed by insurance companies, that purport to project future claims from wildfires. These black box modelswould beused by insurance companies to non-renew entire communities without having to disclose how the modelsworkor whether they are accurate. A new bureaucracy of political appointeesand insurance executiveswould be in charge ofdeveloping the models with no public input. Both billsare couched inthe creation of"insurance market assistance plans" that would allegedly assist insurance companies in addressing climate change and wildfire issues. However,Proposition 103 alreadygives the Insurance Commissioner the authority to establish such plans, subject to Proposition 103's protections. Read Consumer Watchdog's letters urging lawmakers to rejectAB 2167 and SB 292: https://www.consumerwatchdog.org/sites/default/files/2020-05/AB2167Oppose.pdf https://www.consumerwatchdog.org/sites/default/files/2020-05/SB292Oppose.pdf The California Department of Insurance, and organizations includingUnited PolicyholdersandConsumer Federation of California, also oppose AB 2167. Read the Department of Insurance letter of oppositions to ASB 2167: https://www.consumerwatchdog.org/sites/default/files/2020-05/Insurance%20Commissioner%20Oppose%20Letter%20on%20AB%202167%20to%20Assembly%20Insurance%20Committee%20%2805-05-2020%29.pdf Read more about Proposition 103: https://www.consumerwatchdog.org/102-billion-saved-policyholders SOURCE Consumer Watchdog Related Links http://www.consumerwatchdog.org

Answer: Insurance Industry Pushes Legislation to Increase Homeowners Insurance Rates, Derail Public Protections Against Price Gouging, in Guise of Wildfire Response, Says Consumer Watchdog