CA | Advancing his Sustainable Insurance Strategy announced last September, Insurance Commissioner Ricardo Lara today announced the first of several regulatory rule change packages aimed at streamlining the Department’s rate approval process. The California Office of Administrative Law published that rulemaking today and the Department invites public comment in advance of a public hearing on March 26.
These proposed changes are intended to modernize the submission requirements for auto, home, business, and other property and casualty insurance rate applications, ensuring that insurance companies adhere to clear guidelines and provide comprehensive information from the outset for the Department’s review.