California Insurance Commissioner John Garamendi announced the appointment of Richard D. Baum as Chief Deputy Insurance Commissioner of the California Department of Insurance (CDI). Baum, who held the same title during Garamendi’s first term as Commissioner, will assume the position on July 21.
“I am delighted that Rick Baum has accepted the challenge to once again work with me and help build CDI into the best consumer protection agency in the nation,” said Garamendi. “His knowledge and experience will be an invaluable asset as we attempt to right the troubled insurance market in California.”
Baum, 57, of Mill Valley, will be responsible for the day-to-day functions of the Department and assist Commissioner Garamendi and the Executive Staff in formulating Department policy. He will report directly to the Commissioner.
During his first tenure at CDI, Baum directed the daily operations of the Department and oversaw the conservation and rehabilitation of the two largest insurance company failures in California history.
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