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Proposition 103, or Prop 103, was passed in 1988 to protect insurance policyholders from unjust rate hikes across auto, property, life and casualty insurance. Under Prop 103, insurance companies ...
Between 2020 and 2023, multifamily housing development insurance rates increased by an average of 12.5% annually, according to a June report by the Bipartisan Policy Center.
California residents can expect sharp increases in their condo, renter, and home insurance rates in the coming months. State Farm recently requested permission from state regulators to raise rates ...
The California Department of Insurance (CDI), established in 1868, is the agency charged with overseeing insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in California. The CDI has authority over how the insurance industry conducts business within ...
t. e. Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty ...
v. t. e. Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, and to require a 2/3 majority for tax increases in ...
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