"Designed to keep insurance premiums affordable, through rates that are never “excessive, inadequate, [or] unfairly discriminatory,”
Of course notwithstanding Prop 103, regulators could have (and should have) allowed allowed premia based on forward looking models of extreme weather vents. California, after all, is a state that is not in denial about climate change. But it does seem to be in denial about Econ 101.
"Designed to keep insurance premiums affordable, through rates that are never “excessive, inadequate, [or] unfairly discriminatory,”
Of course notwithstanding Prop 103, regulators could have (and should have) allowed allowed premia based on forward looking models of extreme weather vents. California, after all, is a state that is not in denial about climate change. But it does seem to be in denial about Econ 101.