A trio of property/casualty carrier executives voluntarily offered their views on a growing insurance availability crisis in the state of California at an industry conference in late June, pointing to regulatory disconnects and political issues as drivers.
“I have real question and reservation around whether the regulatory system is able to keep up with the pace of change,” said W. Robert Berkley, Jr., president and chief executive officer of W.R. Berkley Corp., during a panel discussion at the S&P Global Ratings 39th Annual Insurance Conference.