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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California Insurance Commissioner Dave Jones seeks more insurer fossil fuel divestment

California insurance commissioner fossil fuel divestment - coal

Jones is pushing forward with this initiative as he simultaneously releases new oil, gas and coal data. California Insurance Commissioner Dave Jones is driving ahead in his effort for fossil fuel divestment. This hot button move is continuing forward right up to the close of 2018 and his position at the top of the state’s insurance industry regulator. Last week, Jones released the most recent data regarding insurance company investment into fossil fuels. With the release of that data, the California Insurance commissioner brought the new fossil fuel disclosures into…

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Insurance industry diversity gets a shot in the arm from the California commissioner

California insurance industry diversity

Dave Jones issued a letter urging CEOs to boost the diversity on their governing boards. California insurance industry diversity just received additional official support through a letter from Commissioner Dave Jones. In his letter, Jones addressed the CEOs of at least fifty insurance companies operating in the state. He urged those CEOs to encourage improved diversity on their governing boards. The letter underscored the impact a company’s board room diversity has on financial performance. The insurance industry diversity letter also requested that each insurer either disclose its intentions to form…

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Dave Jones wants more entries to the California marijuana insurance market

California marijuana insurance - Marijuana plant

The California Insurance Commissioner has called on insurers to help fill coverage gaps in this marketplace. Insurance Commissioner Dave Jones recently called on insurers to take part in the California marijuana insurance market. The goal is to help to fill the coverage gaps that exist among businesses seeking to grow and distribute this drug. California state law says that medical marijuana is legal, though federal law still considers it illegal. Jones’s announcement was made at the same time that a new workers’ compensation insurance program was launched. Atlas General Insurance…

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California Insurance Commissioner Seeks to Stop CVS Merger with Aetna

California Insurance Commissioner want to stop merger - Stop Sign

The state’s stop insurance official has asked the Department of Justice to block the merger. California Insurance Commissioner Dave Jones is urging the U.S. Justice Department to stop CVS Health from merging with Aetna. Such a merger would “have significant anti-competitive impacts on American consumers and health care and health insurance markets,” said Jones. The Californian regulator cannot stop the deal, but he can use his sway with the D.O.J. Even though the California Insurance Commissioner does not have the authority to stop a merger between the companies by way…

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