California Insurance Commissioner John Garamendi held a press conference Aug. 7 announcing his candidacy for Governor of California.
Garamendi enters the race alongside Republican Arnold Schwarzenegger and Democrat Lieutenant Governor Cruz Bustamante.
Reports from the San Diego Union Tribune state Republican Congressman Darrell Issa, who funded the Davis recall, is now backing out of the race.
Garamendi, a Democrat, previously ran for the office of Governor twice in the past.
Insurance Journal will bring you the latest on the gubernatorial race as more information becomes available.