After California Department of Insurance investigation Libre must face $5.5M settlement

California Department of Insurance - judge gavel

The company will also bring to an end its transaction of immigration bonds within the state. Following an investigation by the California Department of Insurance, Libre will be facing a $5.5 million settlement, will stop transacting immigration bonds within the state, phase out its GPS ankle monitor use, and will issue credits to the clients who remain in arrears. The firm must also provide $420 in individual cash credits to clients who are not in an owing position. Beyond that, the settlement resulting from the California Department of Insurance (CDI)…

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California Insurance Commissioner orders premiums returned to businesses

California insurance commissioner Ricardo Lara- ABC 10 News YouTube

Ricardo Lara has told insurers to return premiums on six lines of personal and commercial coverage. California Insurance Commissioner Ricardo Lara has ordered insurers to return premiums from certain lines to businesses and consumers. This has raised pressure on those insurers to take larger steps to reduce customer financial burden caused by COVID-19. Lara has ordered insurers to return premiums paid for March, April, and possibly May as well. The California Insurance Commissioner’s order applies to six different coverage lines. These include passenger and commercial auto, commercial multi-peril, workers compensation,…

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Fossil fuel underwriting disclosure petition rejected by commissioner on Earth Day

Fossil fuel underwriting - Chimney

California Insurance Commissioner Ricardo Lara has turned down the recent move by activists. Activists may have thought that they had Earth Day on their side when California Insurance Commissioner Ricardo Lara considered the fossil fuel underwriting disclosure petition. However, Lara rejected the petition urging him to implement the new regulations over insurance companies. Commissioner Lara underscored climate change as a top priority as a part of his election platform. The petition would have required insurance companies into fossil fuel underwriting disclosure. That is, they would need to disclose the fossil…

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