California Department of Insurance estimates suggest $1.05 billion in wildfire damage

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Official estimates indicate that the devastating wildfires that plague the state will create billion dollar losses. The California Department of Insurance has released an estimate for the damages left behind by the catastrophic wildfires that have left historic damages in the state. The department believes the insured wildfires losses will reach at least $1.05 billion. This estimate is based on the claims received so far from the eight largest Californian insurance companies. Following that estimate, the California Department of Insurance also revealed that it expects the figure to grow. By…

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Will the California insurance commissioner be state Sen. Ricardo Lara in 2018?

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Lara announced that he will be running for the position next year on the heels of a state health care system proposal. Senator Ricardo Lara (D-Bell Gardens) announced his intention to run for California insurance commissioner in 2018. This, only one month after submitting a proposal for a single-payer state health care system. This makes Lara one of four Democrats who have filed the documents necessary to start fundraising. These papers make it possible for possible California insurance commissioner candidates to begin fundraising for their campaigns. Lara’s announcement came with…

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California Insurance Commissioner supports state-level public option

As large insurers step out of many of the federal exchanges, the state is looking to lead the way with alternative options. California Insurance Commissioner Dave Jones supports a new state-level strategy that could enhance health insurance marketplace competition. The intention is to implement a public option within the state which could possibly make California a guinea pig for launching similar ideas in the rest of the country. “I think we should strongly consider a public option in California,” said Jones. California Insurance Commissioner Jones explained that the state is…

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Insurance company sues California commissioner

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UnitedHealth Group has now filed a lawsuit with the intention of blocking a fine of $173 million. In order to try to stop itself from having to pay a $173.6 million fine as a result of an acquisition that went awry, the UnitedHealth Group insurance company has now sued the California insurance commissioner. The filing of the lawsuit was at the Orange County Superior Court near the end of last week. According to the insurance company, which is headquartered in Minnesota, the California commissioner, Dave Jones, is doing little more…

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Health insurance in California to be affected by Insurance Commissioner race

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Dave Jones fights to keep his position as the state’s Insurance Commissioner California is currently searching for a new Insurance Commissioner and the state’s incumbent, Dave Jones, is facing some serious opposition. Jones has become a regulatory powerhouse over the past few years, using his authority to hold the state’s insurance companies to a higher standard. Jones has won support for being an enthusiastic consumer advocate, but he has also made enemies within the insurance industry due to his aggressive stance on regulation. More aggressive regulations could keep insurers in…

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