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1988 California Proposition 103
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance. The ballot measure required insurers to reduce their rates by at least 20 percent. In addition, the act expanded the Department's responsibility for enforcement to include: property insurance, automobile insurance, life insurance and other types of casualty coverage, requiring that the Department approve rates submitted by insurers prior to their taking effect. The law also made the California Insurance Commissioner an elected position (previously being a governor-appointed position). Proposition 103 devised a process enabling consumer participation in the setting of insurance rates, and allowed consumer "intervenors" witness fees and exp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Ballot Proposition
In California, a ballot proposition is a referendum or an initiative measure that is submitted to the electorate for a direct decision or direct vote (or plebiscite). If passed, it can alter one or more of the articles of the Constitution of California, one or more of the 29 California Codes, or another law in the California Statutes by clarifying current or adding statute(s) or removing current statute(s). Measures can be placed on the ballot either by the California State Legislature or via a petition signed by registered voters. The state legislature can place a state constitutional amendment or a proposed law change on the ballot as a referendum to be approved by voters. Under the state constitution, certain proposed changes to state laws may require mandatory referendums, and must be approved by voters before they can take effect. A measure placed on the ballot via petition can either be a vote to veto a law that has been adopted by the legislature (an optional referendum o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ron Johnson
Ronald Harold Johnson (born April 8, 1955) is an American accountant, businessman, and politician serving as the senior United States senator from Wisconsin, a seat he has held since 2011. A Republican, Johnson was first elected to the U.S. Senate in 2010, defeating Democratic incumbent Russ Feingold. He was reelected in 2016, defeating Feingold in a rematch, and in 2022, narrowly defeating Lieutenant Governor Mandela Barnes. Born in Mankato, Minnesota, Johnson attended high school in Edina, Minnesota, a suburb of the Twin Cities, and received a degree from the University of Minnesota. Before entering politics, he was chief executive officer of a polyester and plastics manufacturer in Oshkosh, Wisconsin, founded by his brother-in-law. A staunch ally of President Donald Trump, Johnson voted for Trump's Tax Cuts and Jobs Act in 2017, supported Trump's decision to end Deferred Action for Childhood Arrivals (DACA), launched investigations into his political opponents and promo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Law
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise. History The earliest form of insurance is probably marine insurance, although forms of mutuality (group self-insurance) existed before that. Marine insurance originated with the merchants of the Hanseatic league and the financiers of Lombardy in the 12th and 13th centuries, recorded in the name of Lombard Street in the City of London, the oldest trading insurance market. In those early days, insurance was intrinsically coupled with the expansion of mercantilism, and exploration (and exploitation) of new sources of gold, silver, spices, furs and other precious goods - including slaves - from the New World. For these merchant adventurers, insurance was the "m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California FAIR Plan
The California FAIR Plan (California Fair Access to Insurance Requirements) is a fire insurance program created by the state of California that is used by property owners who cannot find private market insurance coverage. The FAIR Plan was established in August 1968 by a statutory amendment to the California Insurance Code (specifically, section 10091 et seq.), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. If the FAIR Plan does not have the money to pay out all claims, it collects money from insurance companies that operate in California. According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. Between 2020 and 2024, the number of homes covered by FAIR Plan policies more than doubled, while the Plan's total exposure (including commercial properties) nearly tripled. Bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vox (website)
''Vox'' () is an American news and opinion website owned by Vox Media. The website was founded in April 2014 by Ezra Klein, Matt Yglesias, and Melissa Bell, and is noted for its concept of explanatory journalism. Vox's media presence also includes a YouTube channel, several podcasts, and a show presented on Netflix. ''Vox'' has been described as left-of-center and progressive. History Prior to founding ''Vox'', Ezra Klein worked for ''The Washington Post'' as the head of Wonkblog, a public policy blog. When Klein attempted to launch a new site using funding from the newspaper's editors, his proposal was turned down and Klein subsequently left ''The Washington Post'' for a position with Vox Media, another communications company, in January 2014. ''The New York Times'' David Carr associated Klein's exit for ''Vox'' with other "big-name journalists" leaving newspapers for digital start-ups, such as Walter Mossberg and Kara Swisher (of '' Recode'', which was later ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kelsey Piper
Kelsey Piper is an American journalist who is a staff writer at '' Vox'', where she writes for the column ''Future Perfect'', which covers a variety of topics from an effective altruism perspective. While attending Stanford University, she founded and ran the Stanford Effective Altruism student organization. Piper blogs at ''The Unit of Caring''. Education and career Around 2010, while in high school, Piper developed an interest in the rationalist and effective altruism movements. She later studied at Stanford University, where she majored in Symbolic Systems. At Stanford she became a member of Giving What We Can, pledging to donate 30% of her lifetime income to charity, as well as founding the student organization Stanford Effective Altruism. After graduating from Stanford in 2016, Piper worked as the head of the writing team at Triplebyte, until she left to join ''Vox'' as a staff writer. ''Future Perfect'' Since 2018, Piper has written for the ''Vox'' column ''Future Perf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pacific Palisades, California
Pacific Palisades is a neighborhood in the Westside region of Los Angeles, California, situated about west of Downtown Los Angeles. Pacific Palisades was formally founded in 1921 by a Methodist organization, and in the years that followed became a refuge for Jewish artists and intellectuals fleeing the Holocaust. The Palisades would later be sought after by celebrities and other high-profile individuals seeking privacy. It is known for: its seclusion and for being a close-knit community with a small-town feel, its Mediterranean climate, hilly topography, natural environment, its abundance of parkland and hiking trails, its strip of coastline, and for being home to a number of architecturally significant homes. Pacific Palisades has historically been home to many Hollywood celebrities. Due to its secluded location compared to other affluent areas such as Beverly Hills, notable residents are afforded more privacy, and paparazzi are uncommon. People in the entertainment industr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palisades Fire
The Palisades Fire was a wildfire that burned in Topanga State Park, in the Pacific Palisades neighborhood of the city of Los Angeles, California on May 14, 2021. The fire burned a total of and was fully contained on May 26, 2021. Events The Palisades Fire was first reported on Friday, May 14, 2021, at around 10:00 PM PST on the 1800 block of North Michael Lane. Throughout that night, the fire burned between 10 and 15 acres as helicopters and fire crews were quickly brought in to suppress the brush fire. The fire, which had been named the Palisades Fire due to its proximity to the Pacific Palisades neighborhood, burned in unseasonably dry chaparral that had not been burned in a significant fire within the 50 to 60 years, despite the presence of a marine layer over the area. Early in the afternoon of Saturday, May 15, after some containment was established, a spot fire was observed expanding far outside the area of the original fire footprint. This spot fire soon became t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morning Edition
''Morning Edition'' is an American radio news program produced and distributed by NPR. It airs weekday mornings (Monday through Friday) and runs for two hours, and many stations repeat one or both hours. The show feeds live from 5:00 to 9:00 AM ET, with feeds and updates as required until noon. The show premiered on November 5, 1979; its weekend counterpart is ''Weekend Edition''. ''Morning Edition'' and ''All Things Considered'' are among the highest rated public radio shows. The show was hosted by Bob Edwards from its inception until it was retooled for a two-anchor format in 2004 with the introduction of Steve Inskeep and Renée Montagne. Montagne left the show in 2016, and was replaced by Rachel Martin. Four regular anchors currently host the show on a rotating basis, including Inskeep and Martin. A Martínez, who hosts from NPR West, joined on July 19, 2021, replacing David Greene who had joined the show in 2012 and hosted his final episode on December 29, 2020. Lei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place. Moral hazard can occur under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk and has a tendency or incentive to take on too much risk from the perspective of the party with less information. One example is a principal–agent problem, where one party, called an agent, acts on behalf of another party, called the principal. If the agent has more information about his or her actions or intentions than the princi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
