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Topanga residents hear consumer group’s warning on proposed insurance rule changes; state staff promise a town hall
Summary
United Policyholders told Topanga residents proposed Department of Insurance changes would allow forward‑looking loss models and reinsurance pass‑throughs that could raise premiums; state liaisons said they are arranging a department town hall and urged residents to participate in the rulemaking process.
United Policyholders warned Topanga residents on Monday that a proposed change at the California Department of Insurance could shift insurer rate‑setting from historic loss averages to forward‑looking loss models and permit pass‑through of reinsurance costs, a move some consumer advocates call controversial.
"The commissioner is looking to allow forward‑looking projections of loss from wildfire risk models," said Joel, a United Policyholders representative. He explained that prospective models can produce widely varying results from different modelers and that proprietary 'black‑box' models could reduce public accountability. "I am not personally a fan of…
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