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Answers public questions and complaints regarding the insurance industry. Enforces the laws of the California Insurance Code and adopts regulations to implement the laws. The mission is to ensure vibrant markets where insurers keep their promises and the health and economic security of individuals, families, and businesses are protected.
Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at ...
He said more than 130 companies compete for private passenger auto business and more than 70 companies write homeowners insurance. GEICO’s actions in California come as company commissioned Walk ...
Under Proposition 103, passed in 1988, California's insurers have been prohibited from passing the costs of reinsurance (insurance on insurance) onto consumers. They've also been required to use ...
Proposition 103 also made the California Insurance Commissioner an elected official, subjected insurers to California's antitrust laws, civil rights laws and unfair business competition law. It also included a provision for "intervenor fees," which has resulted in payments to Rosenfield and his organizations of more than $6 million. [citation ...
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.
Last year, Francis Bischetti said he learned that the annual cost of the homeowners policy he buys from Farmers Insurance for his Pacific Palisades home was going to soar from $4,500 to $18,000 ...
The insurance business of the Exchange and its subsidiary insurance companies is managed, by contract, by California Casualty Management Company, a separate and independent company. The relationship between California Casualty Management Company and the Exchange has been in place since the founding of the Exchange in 1914.