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California Commissioners Announce Laws For Life Insurance Overhaul Aren't Ready
Commissioner Dave Jones has cautioned other states that an overhaul with regulations concerning life insurance should be given more time and thought before moving forward.
In that, California commissioner Dave Jones encouraged officials to postpone the discussions and regulation voting until further research was done. The new laws would mean that insurance companies would need to be reliant on their own data, claim risks and other statistics, rather than merge data from a multitude of companies.
The vote was supposed to go as scheduled later this week, when Jones compiled a four-page letter going over in detail on how there needs to be research on both sides of the argument, in order to gain more insight and determine the risks/rewards of the new regulation.
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