California E&S Insurance

There’s no immediate answer for that one yet. It’s going to go up. That’s almost a certainty. Whether it goes out completely is going to be up to the DOI and legislature putting together some meaningful reforms that will allow for a healthy marketplace. You’re going to start to see a lot more wildfire deductibles, ACV basis with Replacement Cost being surcharged pretty heavily, base rate increases to try and get to what the market should be (CA is wildly underpriced). In short, carriers are going to stop subsidizing CA and either be allowed to break even or quit the state altogether, which is going to have even greater ripple effects across multiple markets.

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