Rising Insurance Concerns
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Recent Articles
Catastrophe Modeling – Why Are We Talking About It?
Guest Blog By Kimberly Lilley, CIRMS, CMCA, EBP
On Thursday, July 13, 2023, the Department of Insurance (CDI) held a public workshop regarding catastrophe modeling and how it might be used to help with assessing risk in California. Currently, most states use catastrophe modeling to inform the rates that they charge. However, California Insurance Code section 1861.07 requires that all information used in ratemaking be disclosed to the public. Catastrophe modelers make money by developing a process that they consider to be superior so that the carriers in both the traditional and reinsurance market will purchase this information from them.
Investigating Insurance Solutions
The Insurance Task Force of CAI’s California Legislative Action Committee has been actively advocating to address the insurance crisis impacting many California community associations. Here is the latest.
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Wendy Van Messel, CMCA
1809 S Street, Suite 101-245
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Phone: 916-791-4750 | Toll Free: 888-909-7403
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