California Insurance Commissioner Ricardo Lara on Monday announced what he is calling the final step in his efforts to help the state’s ailing homeowners insurance market with the Net Cost of Reinsurance in Ratemaking Regulation, which enables reinsurance as a ratemaking factor and requires insurers to increase coverage in high-risk areas.
The step, which the California Department of Insurance said will create more insurance coverage options for Californians while limiting the costs passed on to consumers, is designe