California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a …
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …
SACRAMENTO, Calif. (AP) — California’s insurance commissioner on Thursday ordered nearly 50 auto insurers to provide detailed information about their claim costs during the pandemic, his latest attempt to compensate consumers he says were overcharged as traffic virtually disappeared when …
Policyholder attorneys have had little success persuading most courts that commercial property insurers owe coverage for business interruptions caused by COVID-19 shutdowns. How about premium rebates instead? A panel of the 8th Circuit Court of Appeals on Thursday shut down …
California Insurance Commissioner Ricardo Lara has issued an order adopting emergency workers’ compensation regulations in response to the COVID-19 pandemic. The new regulations go into effect on July 1. The regulations require insurance companies to recompute premium charges for policyholders …
California Insurance Commissioner Ricardo Lara will have to choose whether he wants insurers to charge higher rates or to stop writing homeowners insurance in fire-prone areas, an industry representative said following new wildfire directives announced by the commissioner. Lara on …