By Miriam Raftery
January 23, 2018 (Sacramento) — The federal tax reform measure recently enacted reduces the corporate tax rate from 35 percent to 21 percent. California Insurance Commissioner Dave Jones observes, “That means that nationally insurers will now be able to retain even more of policyholder premiums as profit. However, in California the prior approval process that applies to property and casualty insurance rates limits insurer profits.”
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