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Under the new regulations, companies must make their services available in high-risk areas to do business in the state, the first such requirement in California history. Insurers must…
SACRAMENTO, Calif. (AP) — Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to ...
Between 2020 and 2022, insurance companies declined to renew more than 2.8 million homeowners policies in California, according to CNN. In recent years, many insurers have scaled back operations ...
Insurance is characterized as a business vested or affected with the public interest. [2] Thus, the business of insurance, although primarily a matter of private contract, is nevertheless of such concern to the public as a whole that it is subject to governmental regulation to protect the public’s interests. [1]
SACRAMENTO, Calif. (AP) — Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he ...
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.
Auto insurance rates are increasing throughout California for a number of reasons. But there are ways to cut costs on your premiums, experts say. California auto insurance rates are skyrocketing ...