Insurance
Nov. 6, 2026
Faster insurance rate approvals come with a trade-off
California's new voluntary rate review process promises faster, more predictable approvals, but carriers must weigh that benefit against public disclosure of the department's rate range and potential hearing delays.
Spencer Y. Kook
Partner
Hinshaw & Culbertson LLP
Insurance Regulatory and Business Litigation
Email: skook@hinshawlaw.com
UCLA SOL; Los Angeles CA
On Oct. 19, Insurance Commissioner Ricardo Lara announced the Comprehensiveness Review Regulation, a voluntary process that allows insurers to obtain the Department of Insurance's view of a proposed rate change before making a formal rate application. Although Lara described the regulation as bringing "unprecedented transparency" to rate review, insurers face a trade-off: the promise of faster, more predictable approvals in exchange for publicly disclosing the department'...
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