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Last week, California's Insurance Commissioner Ricardo Lara issued a one-year moratorium preventing insurance companies from canceling or issuing nonrenewals for homeowners in the neighborhoods or ...
Once known as the "Medical Information Bureau" MIB was founded in 1902 by a group of life insurance companies with a desire to create an industry wide database of life insurance and other products. The goal was to share information as a way to protect applicants, insurers, and policyholders from omissions and fraud that prevented the sound and ...
Medical underwriting is a health insurance term referring to the use of medical or health information in the evaluation of an applicant for coverage, typically for life or health insurance. As part of the underwriting process, an individual's health information may be used in making two decisions: whether to offer or deny coverage and what ...
Between 2020 and 2022, insurers canceled 2.8 million home coverage policies in the state.
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
Answers public questions and complaints regarding the insurance industry. Enforces the laws of the California Insurance Code and adopts regulations to implement the laws. The mission is to ensure vibrant markets where insurers keep their promises and the health and economic security of individuals, families, and businesses are protected. [1]
Currently, California homeowners in high-risk areas have few insurance options. Many have turned to the California FAIR plan, a private program established by the state and designed to be a fire ...
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.