Proposition 103 Recoupment Fee Assessment Fiscal Year 2023-24
In 1988, California voters passed Proposition 103 that, among other things, would reduce insurance rates and require insurers to obtain prior approval of automobile, homeowners and casualty insurance rates from the California Department of Insurance (CDI) before implementing rate changes.
Notification pertaining to the Proposition 103 Recoupment Fee Assessment for Fiscal Year (FY) 2023-24 and Attachment A - Proposition 103 Administration Fees, which provides the FY 2023-24 annual assessment for each company, were mailed to insurers in January 2024.
Notifications are generic to all insurance companies subject to the Proposition 103 Recoupment Fee Assessment. The Attachment A - Proposition 103 Administration Fees is not available on the Web page. Please contact Clayton Hallford at Clayton.Hallford@insurance.ca.gov to receive a duplicate copy for your company.
The following documents are available online for your reference:
- Exhibit B - Proposition 103 Recoupment Fee Overview - provides Proposition 103 history, methodology for calculating costs, and the fee assessment.
- Exhibit C - Proposition 103 Fee Assessment Schedule - provides the assessment factor used to calculate the assessment for each insurer.
- Exhibit D - Description of Department Functions Applicable to Proposition 103 - provides a brief description of each CDI Branch that participates in administering Proposition 103.
- Exhibit E - FY 2022-23 Schedule of Actual Expenditures vs. Actual Revenues - provides actual costs for administering Proposition 103 by CDI Branch/Division/Bureau/Unit.
- Exhibit F - FY 2023-24 Schedule of Projected Expenditures - reflects the projected costs for administering Proposition 103 by CDI Branch/Division/Bureau/Unit.
- Exhibit G - Proposition 103 Fund Balance Activities - provides prior year fund balance activity to calculate the adjustment to account for any over or under collection of assessments in the prior years.
- Exhibit H - FY 2022-23 Informational Report on Intervenor Program Costs - provides Intervenor compensation costs for consumer participation pursuant to California Insurance Code Section 1861.10.
If you have any questions concerning the Proposition 103 Recoupment Fee Assessment calculation, please contact Roy Chan at Roy.Chan@insurance.ca.gov. For questions regarding the Proposition 103 Recoupment Fee Assessment process, please contact Crista Hill at Crista.Hill@insurance.ca.gov.
For more information about consumer participation in the administrative process for setting insurance rates, please visit http://www.insurance.ca.gov/01-consumers/150-other-prog/01-intervenor/index.cfm.
