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California insurance industry trends forum hears from Schwarzenegger about risk

May 12, 2016May 11, 2016 H. Cutner

Arnold Schwarzenegger California insurance industry trends

The former state governor and well known actor weighed in at the Southern California university event. Actor and former governor Arnold Schwarzenegger spoke at a California insurance industry trends forum this week in order to discuss certain central topics such as that of risk. He spoke to insurance students and professionals in the industry about what it took to play some of his most famous roles. Schwarzenegger also took the chance to use the California insurance industry trends seminar to discuss the types of risks he faced when he originally…

Wildfires in California hit the insurance industry with $1 billion in losses

January 29, 2016January 27, 2016 Marc

Fired introduce more financial strain to the insurance industry Two wildfires in Northern California have destroyed almost 150,000 acres of land, causing approximately $1 billion in insured losses, according to the California Department of Insurance. The fires hit the state last fall and the insurance industry has been working to measure the damage caused by the disasters since then. One of the fires, called the Valley Fire, has become the third most devastating wildfire in the state’s history in terms of total structures destroyed. Wildfires could be more destructive due…

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…

195 Arrested in massive auto insurance fraud bust in California

November 18, 2014November 15, 2014 Julie Campbell

54 arrests were made throughout the Bay Area and involved claims estimated at over $250,000. A widespread auto insurance fraud investigation that spanned the state of California has now resulted in the arrest of 54 people in the Bay Area, after an alleged rash of falsified claims were submitted to insurers. This announcement was recently made by the Department of Insurance within the state. According to the announcement that was made by the state department officials, the claims from this insurance fraud bust could have led to over $250,000 in…

Health insurance regulators in California not awarded more power

November 10, 2014November 8, 2014 S.Vagus

California Proposition 45 has been defeated by voters amidst strong opposition to the measure Voters in California have decided to deny the passage of Proposition 45, which would have provided the state’s Insurance Commissioner, Dave Jones, and the state’s Department of Insurance, with the power to review health insurance rate increases. Under current law, state regulators cannot reject rate increases coming from insurers before these increases have been implemented. Commissioner Jones has been advocating for more regulatory power for some time, claiming that tougher regulations would be a benefit to…