Pending legislation purported to be pro-consumer would in fact hurt consumers by mandating insurance practices that in the long run would drive up the cost of homeowners insurance, according to the Association of California Insurance Companies.
“The package of bills, dubbed the ‘Homeowners’ Bill of Rights’ by the insurance commissioner, are an ill-advised attempt to quash what have been long-standing, proven business practices that benefited policyholders over the years in California and throughout the country,” said ACIC President Sam Sorich.
Legislative committees on Wednesday (May 5) will consider several bills that are part of the package. Two – SB 1474 and SB 1855 – will be heard in the Senate Insurance Committee and one, AB 2962, will be before the Assembly Insurance Committee.
