Association of California Insurance Companies Archives

Insurance Commissioner Jones calls for the insurance industry to divest in coal

January 28, 2016April 10, 2017 Logan B.

Dave Jones California insurance commissioner insurance industry rates

Commissioner Jones asks insurers to cut their investments in the coal industry California Insurance Commissioner Dave Jones has issued a call to the insurance industry, encouraging companies to divest from the coal industry. Commissioner Jones is working to require insurers to disclose their investments in coal companies as well. The use of coal among utilities has fallen sharply over the past few years due to federal emissions regulations, but coal companies still receive strong financial support from both the public and private sectors. By divesting from coal, the insurance industry…

Employers in California pay slightly more into premiums for workers’ compensation insurance

January 21, 2012May 5, 2013

According to Dave Jones, the California insurance commissioner, the top 100 companies in the state, which make up 96.7 percent of its market, have increased the rates that they have filed by an 2.8 percent average so far this year. The average increase will impact the majority of businesses that are legally required to purchase plans that pay for an injured employee’s medical expenses when the injury occurred while on the job, and that offers compensation for work related disabilities both temporary and permanent. The majority of the policies held…

New regulations take effect in California, drawing the ire of the state’s insurance companies

July 5, 2011 Nordstrom

New homeowner’s insurance regulations have taken effect in California. According to Insurance Commissioner Dave Jones, the new regulations will offer new protections to consumers against being under insured. Part of the aim of the new regulations is to improve upon the state’s standard regarding natural disasters and catastrophic damage to homes. Furthermore, homeowners will no longer be able to purchase “too little” coverage, as the new regulations mandate a minimum level of insurance coverage based upon the property being insured. The regulations have ruffled the feathers of the Association of…

New insurance regulations for California homeowners take effect

June 29, 2011 Nordstrom

Despite numerous challenges, a new set of regulations for California homeowners took effect on June 27, 2011. These changes were geared toward improving the standards and training processes for the replacement value estimations of a homeowner’s insurance should a disaster occur. At the same time, the controversial alterations are still being contested by two insurance trade associations. The new cost regulations include the following (California Code of Regulations Section 2695.183 (h)): • Conditions for outlining the requirements that involve the replacement cost and value estimates designed to improve comprehensiveness, consistency,…