Aetna to lift moratorium on Calif. business. (Aetna Life and Casualty Co.)

National Underwriter Property & Casualty-Risk & Benefits Management, May, 1989

AETNA TO LIFT MORATORIUM ON CALIF. BUSINESS Aetna Life and Casualty Co. has lifted a moratorium on property and casualty insurance policies in California and has resumed accepting new business in the state. The Hartford-based insurer initially made the decision to cease writing business in California on May 8 to protest restrictions on insurance rates after the California Supreme Court ruled on the constitutionality of Proposition 103, (See NU, May 15.) Aetna, in a written statement, said the mandatory reductions in auto and casualty insurance rates called for under Prop.

103 created too much uncertainty concerning future rate levels for it to continue writing new business. But based on recent assurances from the California Insurance Department...

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