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Stop the massive homeowner’s insurance rate hike. No on AB 2167

While Californians are hunkered down to survive the pandemic, the insurance industry is sneaking AB 2167 (Daly) through the legislature. It would short circuit the Insurance Commissioner’s rate review process, which requires insurers to base homeowners’ rates on justified factors. It is estimated that AB 2167 could increase rates by another 40%, on top of substantial rate hikes that homeowners are already paying. Contact your lawmakers today.

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CA State Assembly and Senate

Subject: Stop the massive homeowner’s insurance rate hike. No on AB 2167

Message:

I urge you to vote No on AB 2167 (Daly), which would lead to tens of billions of dollars in fast-tracked homeowner’s insurance rate hikes. Voter-enacted Proposition 103 gives the Insurance Commissioner authority to approve insurance premium rate hikes that are based on costs that can be verified. AB 2167 allows insurers to short-circuit this regulatory system and raise rates based on unregulated factors, such as a captive reinsurance company’s rate increases. Many homeowners in high risk areas are already spending heavily to harden their homes and protect their communities from wildfires. They don’t need the further burden of a 40% increase in insurance costs beyond the already considerable rise in those premiums. Insurers are attempting to take advantage of the public’s focus on COVID-19 to push through a bill that was developed with no input from stakeholders representing consumers and policyholders. Consumers deserve insurance rates that are fair and transparent. AB 2167 delivers neither. I urge you to vote No on this bill. Sincerely,

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Stop the massive homeowner’s insurance rate hike. No on AB 2167

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