California Insurance Commissioner Steve Poizner has issued proposed emergency regulations to change the system for evaluating insurers' rate filings, saying that the regulations should help keep property-casualty rates low.
The regulations, which require approval by the State Office of Administrative Law, were generally seen as a positive move by the Association of California Insurance Companies trade group Wednesday, but the organization said more needed to be done.
Mr. Poizner's Monday announcement said the regulations clarify and streamline the prior-approval rate system by making the rate filing process more efficient, accurate and transparent. They would not apply to the workers' compensation line.
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