Carriers Seek Less Restrictive Credit Requirement in High-Deductible Policy Rules

Representatives for the insurance industry say that while they support the idea of establishing minimum financial strength and capital surplus requirements carriers must meet to write large-deductible policies in California, the criteria proposed by the Department of Insurance is too restrictive. The Insurance Department on Monday closed the first public comment period on proposed rules that would require carriers to maintain a specified credit rating and minimum surplus to write high-deductible policies, which would be defined as those with a deductible of $100,000 or more. Carrier...