Legislation to give California insurance regulators more power is pulled from the Legislature

For the past several months, California legislators have been toiling over a bill that would give the state’s insurance regulators expansive new powers. The bill would have expanded upon regulator’s authority and enabled them to reject or revive insurance rate proposals from the state’s insurance companies. The bill has generated a fair amount of opposition, especially from insurers who are loathe to see regulators wielding more authority. Now the future of the bill is uncertain, as its author, Assemblyman Mike Feuer of Los Angeles, pulls it from consideration. Feuer’s legislation…

Read More