California Insurance Commissioner Ricardo Lara News

Washington, California Urge Insurers to Adopt TCFD Climate Reporting Guidelines

Washington Insurance Commissioner Mike Kreidler and California Insurance Commissioner Ricardo Lara are askikng all insurers that are currently required to report to them annually on climate change to start reporting their climate risks in alignment with the Task Force on …

California Commissioner Calls on Insurers to Do More to Boost Wildfire Prep

California Insurance Commissioner Ricardo Lara called for property insurers in the state to step up and do more to help residents and businesses deal with wildfires. Lara on Thursday gave an update on the actions and communities in the state …

Commissioner Makes Appointments to California Workers’ Governing Committee

California Insurance Commissioner Ricardo Lara today announced two reappointments to the California Workers’ Compensation Insurance Rating Bureau’s Governing Committee. Lara appointed Mitch Steiger and Diana Rich to the WCIRB Governing Committee for another two-year term. The committee sets policy, oversees …

California High Court Affirms Consumer Rights to Dispute Insurance Rates

A California Supreme Court decision has reaffirmed California Insurance Commissioner Ricardo Lara’s assertion that consumers have a right to dispute insurance rates that have not been properly filed and approved. The court’s decision involved title insurance, but has implications for …

Groups Pushing Auto Insurance Reform to ‘End Discrimination Against Lower-Wage Californians’

Millions of California drivers will see auto insurance savings with the adoption of regulations presented at a California Department of Insurance workshop on Tuesday that would “end discrimination against lower-wage Californians,” according to the Consumer Federation of America and the …

State Farm Returning $400M to California Auto Customers

State Farm is returning $400 million to California mutual auto insurance customers due to better than anticipated claim results, the company announced this week. The announcement comes as the California Insurance Commissioner Ricardo Lara on Thursday said insurers in California …

California Commissioner Says Insurers Overcharged Drivers During Pandemic

Insurers in California continued to overcharge drivers despite reduced risk of accidents during the pandemic, according to a report released today by Insurance Commissioner Ricardo Lara. Lara ordered auto insurance companies to return a percentage of paid premiums in April, …

California Commissioner Wants Rate Transparency Rules for Wildfire Risk

California Insurance Commissioner Ricardo Lara has proposed new rules to give homeowners and businesses open access to their properties’ wildfire risk scores. The new rules would require insurance companies to provide a consumer with their property’s wildfire risk score, which …

California Commissioner Wants More Group Discounts for Lower-Income Drivers

California Insurance Commissioner Ricardo Lara on Thursday released revised draft regulations to expand drivers’ access to group discounts. The revised draft regulations will extend discounts to previously underrepresented drivers in the first major reform of group discounts since voters approved …

California Commissioner Names Morales Diversity Task Force Leader

California Insurance Commissioner Ricardo Lara has named Mark Morales to lead the California Department of Insurance’s Diversity Task Force, the first LGBTQ+ person named to the post. Morales replaces Sal Peinado, Jr. He will lead the first quarterly meeting of …