American businesses and consumers rely on the availability of insurance services provided at competitive rates. The Coalition for Competitive Insurance Rates is made up of business organizations, consumer advocacy groups, insurers and their associations advocating for continued and increased competition within the insurance industry.

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Wednesday
Jan252017

GOP tax plan could boost prices for Californians’ insurance

By Steven Greenhut

SACRAMENTO – Donald Trump has only been president since Friday, so it’s too early to know what his “America first” policies will mean economically. But an ongoing debate from the world of property insurance could provide hints as to what some of these policies might mean.
For years, some Democratic members of Congress have been pushing a “reinsurance” measure that is protectionist in nature. Reinsurance is insurance purchased by insurance companies, and is of particular importance for Californians because of its role in protecting against widespread calamity – i.e., if a major earthquake or wildfire hits a particular region.

 

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