Commissioner Lara’s Reforms to Rescue California’s Property Market In a bid to rescue California’s beleaguered property market, Insurance Commissioner Ricardo Lara has announced a series of reforms aimed at addressing the growing crisis in the state’s insurance sector. The situation has reached a critical point, with many insurers either pausing or severely limiting new policies, particularly in high-risk areas prone to wildfires. The Roots of the Crisis The current crisis is partly rooted in the 1988 voter-passed Proposition 103, which mandates that insurance companies obtain approval from the California Department…
Read MoreRicardo Lara’s Reforms: Can They Save California’s Property Market from Fire Risks?
