By The Restoration HQ desk · · filed under Carriers & the Market
California: policyholders pay more while the watchdog gets leashed
Advocates are arguing California is loosening rate oversight while premiums climb, weakening the consumer-watchdog function that has historically checked rate and claim behavior.
FORA functioning market needs carriers who can price risk, so some oversight loosening is the price of keeping carriers in California at all.
AGAINSTHigher premiums and a muzzled watchdog is the worst of both worlds for the homeowner and the contractor who has to fight the claim.
Consensus vs. contrarianContrarian: watch oversight strength, not carrier count, a market with more carriers and less accountability is a harder place to get paid.
Sources Merlin Law Group, www.propertyinsurancecoveragelaw.com/blog/ca… ()