CA Ins. Comm. Ricardo Lara poorly decided to allow carriers to use the CA FAIR Plan to sell HO Policies and “brand” those Policies with their own brand names (State Farm, Allstate, Farmers, etc.). Despite this, those carriers (and others, such as Liberty Mutual, Nationwide, and AIG) have still stopped writing New Bus. HO in CA. What’s needed is a CEA (CA Earthquake Authority) -type solution. Have a six-sided mechanism, funded by the State, the carriers, the Policyholders, bondholders, etc. Use this mechanism to include Climate Change and other rating factors which the carriers need. It won’t be a market of last resort; it can be a market-maker, such as the CEA is, and such as SCIF (State Compensation Insurance Fund) is. Agents are the ones who went to the CA Legislature and got the CEA passed, after a 2 1/2 year long Fire Moratorium from early 1994 until late 1996 (post the 1994 Northridge Earthquake). Agents, don’t wait for the carriers to take any proactive steps. Agents, use your PACS, your Legislative committees, your Legislative Advocates, your Associations, to lobby your local CA State Senators & Assemblymembers. Come to an agreement/find a solution to this problem, and get it passed Legislatively. Take 2 12 years like we did to pass the CEA, or hopefully take less time. But if you want change then be that change. If you wait for the carriers to do something other than abandoning the market and pointing fingers, you will be waiting forever. Agents, huddle your Leadership, use the CEA as a template, and get it done. Then & only then will the carriers come back. (Don’t let them take any credit for the Legislative decision which you, the Agents, worked for, either). Show ’em how it’s done! Stop wasting time! Climate Change isn’t waiting or stopping! Do it now! Don’t procrastinate and see carriers leave CA forever. The world’s fourth-largest economy, with over forty million people, deserves better! Agents, you’re the answer! Call, email, or visit your local Legislators today! This can and must be done, now!
CA Ins. Comm. Ricardo Lara poorly decided to allow carriers to use the CA FAIR Plan to sell HO Policies and “brand” those Policies with their own brand names (State Farm, Allstate, Farmers, etc.). Despite this, those carriers (and others, such as Liberty Mutual, Nationwide, and AIG) have still stopped writing New Bus. HO in CA. What’s needed is a CEA (CA Earthquake Authority) -type solution. Have a six-sided mechanism, funded by the State, the carriers, the Policyholders, bondholders, etc. Use this mechanism to include Climate Change and other rating factors which the carriers need. It won’t be a market of last resort; it can be a market-maker, such as the CEA is, and such as SCIF (State Compensation Insurance Fund) is. Agents are the ones who went to the CA Legislature and got the CEA passed, after a 2 1/2 year long Fire Moratorium from early 1994 until late 1996 (post the 1994 Northridge Earthquake). Agents, don’t wait for the carriers to take any proactive steps. Agents, use your PACS, your Legislative committees, your Legislative Advocates, your Associations, to lobby your local CA State Senators & Assemblymembers. Come to an agreement/find a solution to this problem, and get it passed Legislatively. Take 2 12 years like we did to pass the CEA, or hopefully take less time. But if you want change then be that change. If you wait for the carriers to do something other than abandoning the market and pointing fingers, you will be waiting forever. Agents, huddle your Leadership, use the CEA as a template, and get it done. Then & only then will the carriers come back. (Don’t let them take any credit for the Legislative decision which you, the Agents, worked for, either). Show ’em how it’s done! Stop wasting time! Climate Change isn’t waiting or stopping! Do it now! Don’t procrastinate and see carriers leave CA forever. The world’s fourth-largest economy, with over forty million people, deserves better! Agents, you’re the answer! Call, email, or visit your local Legislators today! This can and must be done, now!