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.

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.

Jan 10, 2025 · California Insurance Commissioner Ricardo Lara has issued a moratorium that bars insurers from canceling or non-renewing home policies in the Pacific Palisades and the San Gabriel Valley’s Eaton...

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 …

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.

Jun 12, 2024 · SACRAMENTO — A new draft regulation announced today by California Insurance Commissioner Ricardo Lara will require that insurers that use new catastrophe modeling must write more policies in distressed areas, with larger insurance companies required to insure properties in distressed areas at a rate equal to 85% of the insurer’s statewide ...

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.

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.

Sep 21, 2023 · California Insurance Commissioner Ricardo Lara announced a major overhaul of California's property insurance regulations Thursday. SACRAMENTO (KGO) -- The day started with Gov. Gavin Newsom...

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.