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The California insurance commissioner has been an elected executive office position in California since 1991. Prior to that time, the insurance commissioner was appointed by the governor. The officeholder is in charge of the California Department of Insurance. The current insurance commissioner is Democrat Ricardo Lara.
Ricardo Lara (born November 5, 1974 [1]) is an American politician who is currently serving as the 8th Insurance Commissioner of California.Lara was elected during the 2018 election, defeating former California insurance commissioner Steve Poizner.
Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
California Insurance Commissioner Ricardo Lara has barred insurance companies from dropping fire victims’ policies for one year. “Losing your insurance should be the last thing on someone’s ...
The commissioner’s office said the requirement will be limited to California, so in-state consumers will not be on the hook for the insurance costs of other high-risk areas, like the Gulf Coast.
Insurance Commissioner Ricardo Lara has issued a one-year moratorium on home policy non-renewals and cancellations in the Pacific Palisades and the San Gabriel Valley's Eaton fire zones.
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California Insurance Commissioner Ricardo Lara has approved regulations that next year will let insurers use complex computer programs that predict future risk in setting rates.