California Insurance Commissioner Ricardo Lara has identified areas in the vicinity of the several ongoing large wildfires in the state that will be protected by a one-year moratorium on homeowners insurance non-renewal or cancellation due to wildfire risk. Lara’s action …
California Insurance Commissioner Ricardo Lara on Friday released a statement on his latest administrative action designed to address the state’s homeowners insurance crisis. Lara today issued a bulletin implementing rate review reforms he says will help stabilize the state’s insurance …
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …
California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 to $1.38 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …
California Insurance Commissioner Ricardo Lara today ordered insurers to preserve residential property insurance coverage for roughly 46,000 policyholders affected by the Thompson Fire in Butte County. The move follows an emergency declaration over the fire from Gov. Gavin Newsom on …
The cumulative cost of the seven heat events in California in the past decade amounted to $7.7 billion in losses, a new report shows. The analysis from California Insurance Commissioner Ricardo Lara’s office is the result of legislation he sponsored …
The California FAIR Plan Association will expand its clearinghouse to include commercial policies, such as those covering farms and condos, beginning July 1. The move follows the passage of Senate Bill 505 in 2023. California Insurance Commissioner Ricardo Lara in …
California Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires, a move he says will help restore insurance options for Californians. It was the latest phase of Lara’s Sustainable Insurance Strategy. …
California Insurance Commissioner Ricardo Lara issued an official notice to insurers regarding consumers who have been reporting issues obtaining auto insurance coverage. The California Department of Insurance continues to receive numerous complaints from consumers who have been having issues obtaining …
Representatives John Garamendi, Zoe Lofgren and other members of California’s congressional delegation sent a letter to California Insurance Commissioner Ricardo Lara urging him to use his power under state law to stabilize the insurance market and protect consumers. The letter …
