CDI News
CDI Announces Investigation of State Farm Wildfire Claims Handling
California Insurance Commissioner Ricardo Lara on Thursday announced a formal investigation into State Farm's handling of thousands of insurance claims from wildfire survivors affected by the ...
Take Down of Vehicle Hostage Scam Nets 16 Arrests in California
The California Department of Insurance is warning drivers about a vehicle hostage scam sweeping Southland, after the arrests of 16 residents involved in an alleged auto insurance fraud ring. Scams ...
LA Fires: Calif. Insurance Commissioner OKs FAIR Plan Request for $1B Assessment
California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR ...
Verisk Announces Wildfire Cat Model Under Review by CDI
Global analytics tech provider Verisk announced it has requested a review of its wildfire catastrophe model by the California Department of Insurance (CDI). This follows California Insurance ...
Sorry, Wrong ZIP Code: Regulators Move Forward With California Reforms
Why isn't my ZIP code on the map? Questions along those lines emerged at a public hearing hosted by the California Department of Insurance last week when CDI sought comments on proposed regulatory ...
Raise a Glass to Cat Models: More California Hearing Deets
At a recent California Department of Insurance virtual public hearing, stakeholders were invited to weigh in on a regulatory proposal spelling out commitments insurers have to make in exchange for ...
State Farm Seeks Large California Rate Hikes; CDI To Probe Financial State
State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7 percent and 20 percent—adding fuel to a burning homeowners crisis in a state that's ...
Calculating Targeted California Returns on Surplus
The National Association of Insurance Commissioners (NAIC) 2022 Report on Profitability by Line and by State provides a comparison of the rates of return on net worth for the last 10 years (through ...