If the Department of Insurance approves a series of rule changes, the company would end its pause on issuing new homeowner policies in California. And it would immediately start writing coverage again 'in nearly every corner' of the state.
Under the plan, companies will be allowed to use computer programs to predict losses from wildfires, a departure from having to anticipate catastrophic events based on the past 20 years, a restriction unique to California.
#insurance-industry #california-regulations #homeowner-policies #risk-prediction #policy-approval-process
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