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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.
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.
Arthur J. Gallagher & Co. (AJG) is an American global insurance brokerage and risk management services firm headquartered in Rolling Meadows, Illinois (a suburb of Chicago). The firm was established in 1927 and is one of the largest insurance brokers in the world.
Climate change and extreme weather have contributed to catastrophic fires that destroyed thousands of California homes in recent years — and an insurance crisis that could result in the biggest ...
California's insurance commissioner on Friday turned down a request by State Farm General for an emergency 22% hike of its home insurance rates due to the Los Angeles wildfires, saying the company ...
A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on January 16, 2025.
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
(KTLA) – Another major insurer is pulling back on its offerings in California, forcing tens of thousands of customers to find other options. SafeCo, a subsidiary of California’s fourth-largest ...