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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.
As of December 22, 2015, Cal/OSHA employed 195 field enforcement officers, 25 of whom received bilingual pay for using a second language at least 10% of the time on the job. [3] The organization offers training materials and paid training time to staff interested in learning other languages and encourages bilingual applicants to apply.
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.
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 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]
Here's what's going on — and some steps homeowners can take now to lessen the blow. Read more:State Farm won’t renew 72,000 insurance policies in California, worsening the state's insurance crisis
Finance and insurance 0.3 15,900 Real estate and rental and leasing 2.2 44,400 Professional and business services 1.2 205,900 Professional, scientific, and technical services 0.9 81,100 Management of companies and enterprises 0.8 18,600 Administrative and support etc. 1.9 88,700
Here's a look at what California Insurance Commissioner Ricardo Lara proposed and how it would affect the state's insurance market: WHAT ARE THE RULES FOR INSURANCE COMPANIES?