Tag: commissioner Lara

California Insurance Commissioner Lara seeks new guidance to overcome state crisis

G. Turner
California insurance - Home insurance crisis guidance

The state is working on establishing new regulations to help the industry there recover California Insurance Commissioner Ricardo Lara has reached out to insurers in the state, telling them that they must develop ideas beyond rate hikes to overcome the current crisis in the state. Lara is simultaneously working on new state regulations According to Lara, his office and the California insurance industry are “in a forced marriage,” in which “we’re staying together for the kids.”  However, the commissioner was also able to find common ground with the Farmers Insurance…

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California agents seek an end to the auto insurance rate moratorium

G. Turner
Auto insurance - Woman and Man with arms crossed

A group representing the agents says it is having a negative impact in the state. A California auto insurance group has become quite vocal about their opinion against Commissioner Lara’s recent rate moratorium. According to the agents, the commissioner’s moratorium is negatively impacting state consumers. The American Agents Alliance has stated that they are opposed to Lara’s auto insurance rate moratorium in California. The alliance is based in Sacramento, California, and is an association of professionals in the insurance industry. “Commissioner Lara’s Rate Moratorium and his refusal to process automobile…

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California Commissioner Lara places green investment onus on insurance companies

G. Turner
Insurance companies - Green Investment

A new report detailed how insurers have funded fossil fuel companies and the impact it has had. California Insurance Commissioner Ricardo Lara recently released a report and webpage in which he detailed the investments insurance companies have made into fossil fuel. The report and webpage are components of the commissioner’s broader efforts by the Commissioner. Commissioner Lara has used this report on investments into fossil fuels by insurance companies as a part of his broader strategy to protect Californian consumers from the impact of climate change. The state is making…

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