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Under the new regulations, companies must make their services available in high-risk areas to do business in the state, the first such requirement in California history. Insurers must…
"Broadly speaking, the insurance commissioner, to the extent that he can, has been reasonable at allowing rate increases for companies that want to continue to do business in California." Lara's ...
Insurance is a capital-intensive business with thin profit margins, and many insurers have been hemorrhaging money in California in recent years as wildfires intensify. 2018’s Camp Fire in ...
Insurance Commissioner Ricardo Lara said in a statement, "Insurance companies are pledging their commitment to California, and we will hold them accountable for the promises they have made."
The state Department of Insurance issued a new regulation last month meant to turn the tide of some of the largest insurance companies' refusal to take on new customers in California or decisions ...
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.