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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.
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.
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Bankrate’s premium data from Quadrant Information Services indicates that the annual average cost of home insurance in California is $1,217 for $250,000 in dwelling coverage, which is about 28 ...
In March 2024 State Farm, the largest home insurance company in California by market share, broke the news that it would nonrenew around 70,000 policies, 30,000 of which are estimated to belong to ...
State Fund also serves as a third-party administrator, adjusting claims for almost all of the state agencies. California is one of 21 states with a competitive state fund in the workers' compensation insurance market. [7] In 2010, State Fund implemented a plan to redesign operations and reduce costs for California employers. In 2013, State Fund ...
Gov. Gavin Newsom is proposing a bill that would require the state Department of Insurance to review rate-hike requests from home insurers within 60 days as companies pull back from the market due ...
In 2002, California enacted the Paid Family Leave (PFL) insurance program, also known as the Family Temporary Disability Insurance (FTDI) program, which extends unemployment disability compensation to cover individuals who take time off work to care for a seriously ill family member or bond with a new child.