Governor Newsom Signs Executive Order to Strengthen Property …
Sep 21, 2023 · Governor Gavin Newsom is urging Insurance Commissioner Ricardo Lara to take action to stabilize and improve California’s property insurance marketplace. Some companies have already announced they will stop issuing new policies in California.
Newsom Signs Executive Order Aimed at Fixing Homeowners ... - KQED
Sep 21, 2023 · Ricardo Lara, the state’s insurance commissioner, praised what he called an “emergency regulatory action” to address the declining options for California homeowners and business owners. “The current regulatory framework does not meet our needs,” Lara told reporters at a press conference on Thursday afternoon.
Insurance Crisis: Newsom Orders 'Prompt Regulatory Action'
Sep 21, 2023 · On Thursday, Gov. Gavin Newsom ordered the state’s insurance commissioner, Ricardo Lara, to take “prompt regulatory action” to stabilize the markets for homeowners and commercial property insurance and to keep the state’s Fair Access to Insurance Requirements (FAIR) plan, an “insurer of last resort” for high-risk properties, solvent.
Governor Gavin Newsom issued an executive order urging Insurance Commissioner Ricardo Lara to take swift action to address ongoing issues with the insurance market and expand coverage options for consumers, while maintaining strong consumer protections and …
Governor Newsom’s executive order leads to FAIR Plan reforms
Jul 26, 2024 · SACRAMENTO – California Insurance Commissioner Ricardo Lara announced a modernization of the state’s FAIR Plan, also known as the “insurer of last resort,” to strengthen the program for those who depend on this system for affordable and reliable coverage.
California Expands Moratorium on Homeowners Insurance …
4 days ago · California Insurance Commissioner Ricardo Lara expanded emergency insurance protections for Southern California homeowners, adding new ZIP Codes to those already under a mandatory one-year ...
Newsom, Lara move to fix California fire insurance exodus | Sacramento Bee
Sep 21, 2023 · Gov. Gavin Newsom and Ricardo Lara moved to address California’s exodus of insurance companies due to climate change and wildfire risk.
California Commissioner Moves to Implement Insurance Rate …
Aug 9, 2024 · Lara today issued a bulletin implementing rate review reforms he says will help stabilize the state’s insurance marketplace, which includes reforms included in budget trailer language that Gov....
California insurance commissioner announces agreement on …
Sep 21, 2023 · SACRAMENTO, Calif. — California Insurance Commissioner Ricardo Lara announced Thursday afternoon that the state has reached an agreement with wildfire insurance companies geared toward issuing...
Governor and Insurance Commissioner Finally Address …
After repeated efforts by Senate Minority Leader Brian W. Jones (R-San Diego) and California Senate Republicans to address the homeowners’ insurance crisis in this state, Governor Gavin Newsom and Insurance Commissioner Ricardo Lara finally announced some actions today to mitigate the crisis.