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Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
State Farm had the largest California market share in 2023 with 19.9%, followed by Farmers Insurance with 14.9%, as well as CSAA Insurance Exchange and Liberty Mutual with 6.5% each.
If the FAIR Plan does not have the money to pay out all claims, it collects money from insurance companies that operate in California. [5] 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. [6]
Pages in category "Financial services companies based in California" The following 97 pages are in this category, out of 97 total. This list may not reflect recent changes .
According to the industry's Insurance Information Institute, California’s insurers paid out $1.08 in claims and claims-related expenses for every dollar collected in premiums between 2013 and 2022.
The American Property Casualty Insurance Assn., a national trade association representing home, auto and business insurers, released a statement that called California's current insurance ...
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