Tag: california

Industry News: California Insurance Commissioner Rejects Petition to Require Fossil Fuel Underwriting Disclosure

April 24, 2019

“California’s new commissioner wasn’t getting along so well on Earth Day with groups of climate change and consumer activists.

California Insurance Commissioner Ricardo Lara, who put battling climate change on top of a liberal and consumer friendly platform on his way to winning election as commissioner, rejected a petition urging him to place new regulations on insurers to disclose what projects in the fossil fuel industry they underwrite.”

Click here to read the full article from InsuranceJournal.com.

Richard Lara Elected To Head State Insurance Department 

November 13, 2018

Democratic State Senator Ricardo Lara of Los Angeles will be the next Insurance Commissioner of California, according to final returns reported by the Secretary of State.  With 100% of all precincts reporting, Sen. Lara had 50.8 percent (3,393,189) of the vote; former Commissioner Steve Poizner, running as an independent, had 49.2 percent (3,287,452).

“As California’s Insurance Commissioner, I’ll work tirelessly to represent the great people of California, not the corporations, the billionaire class, the pharmaceutical or the insurance companies,” the Commissioner-elect pledged on his campaign website (www.ricardolara.com).  “I plan to work with anybody who is willing to come to the table, but my allegiance will always be first and foremost to the consumers, the patients, our working families, and our most vulnerable communities in our Golden State.”

 

To read the full article from IIABCal’s Independent Insider newsletter, click here.

IIABCal: Legislative Update on Fire Insurance Legislation Proposed In 2018

January 9, 2018

There is the potential to be as many as 30 fire insurance related legislative measures introduced by the February 16, 2018 bill introduction deadline for the year, the majority of which to be potentially sponsored by California Insurance Commissioner Dave Jones.

These are currently proposals, with the exception of those in Section I which have been formally introduced. The following is intended to provide a primer on potential legislative action in this issue area.

Click here to read on.