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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.
The California insurance commissioner has been an elected executive office position in California since 1991. Prior to that time, the insurance commissioner was appointed by the governor. The officeholder is in charge of the California Department of Insurance. The current insurance commissioner is Democrat Ricardo Lara.
California was the first state in the U.S. to set up a health insurance marketplace. [ 1 ] [ 2 ] The California Health Benefit Exchange was created in September 2010 when then-Governor Arnold Schwarzenegger signed Assembly Bill 1602, (the "California Patient Protection and Affordable Care Act"), [ 3 ] by Assembly Speaker John Perez, and Senate ...
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.
Insurance Commissioner Ricardo Lara announced the update during a hearing Wednesday in front of state lawmakers. Changes to California home, auto insurance rate process expected to be unveiled ...
In March 2024 State Farm, the largest home insurance company in California by market share, broke the news that it would nonrenew around 70,000 policies, 30,000 of which are estimated to belong to ...
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