Insurance

Consumer Participation In Insurance Rate Review, Billions In Consumer Savings, At Risk From Commissioner Lara’s Actions

August 9, 2024  ·  Carmen Balber

Los Angeles, CA — Consumer Watchdog issued the following statement about Commissioner Lara’s action today threatening consumers’ voice in insurance rate review. “For the past two...

Insurance Commissioner Lara Certifies Consumer Watchdog’s Right To Intervene In Rate Cases

August 7, 2024  ·  Jamie Court

It should have been proforma, but Insurance Commissioner Ricardo Lara has finally certified Consumer Watchdog’s right to collect compensation for intervening in insurance rate cases....

Consumer Watchdog Calls for Public Hearing on State Farm’s Unprecedented Request for 4-Year, $5.2 Billion Policyholder Bailout

July 29, 2024  ·  Carmen Balber

Los Angeles, CA — Consumer Watchdog is asking Insurance Commissioner Lara to hold a public hearing on State Farm’s new request for a 30% increase in...

Bailout: Insurance Commissioner Would Force Homeowners to Pay for FAIR Plan Losses 

July 26, 2024  ·  Carmen Balber

Los Angeles, CA — Insurance Commissioner Ricardo Lara today proposed a multi-billion dollar policyholder bailout of the insurance industry for its exposure to wildfire losses at the...

Insurance Journal – How California’s Homeowners Insurance Crisis Is Affecting Brokers

July 26, 2024  ·  Consumer Watchdog

By Don Jergler, INSURANCE JOURNAL https://www.insurancejournal.com/news/west/2024/07/23/785223.htm A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and...

Consumer Watchdog Responds To Industry Attack On Its Right To Challenge Unjustified Rate Hikes; Calls On Insurance Commissioner Lara To Follow Law & Confirm Its Eligibility

July 15, 2024  ·  Carmen Balber

Los Angeles, CA  — Consumer Watchdog called on the Department of Insurance to stop erecting roadblocks to public oversight and confirm the organization’s eligibility to challenge...

Consumer Watchdog to Testify that Five Loopholes in Lara Rule Will Stand in the Way of New Coverage in Fire Areas

June 26, 2024  ·  Carmen Balber

Sacramento, CA – Loopholes in the latest regulation proposed by Insurance Commissioner Ricardo Lara will enable continued insurance redlining and non-renewals in fire zones, not spur...

Lara’s 85% wildfire coverage plan morphed to just 5%

June 17, 2024  ·  Carmen Balber

Insurance Commissioner Ricardo Lara’s latest regulation to get insurers covering California again has another massive loophole. Insurers’ so-called commitment to increase sales in risky areas...

Lara Plan Leaves Home, Condo, Apartment Insurance Unaffordable and Unavailable

June 12, 2024  ·  Carmen Balber

Sacramento, CA — Home insurance will remain unaffordable and unobtainable for many Californians under new rules proposed by Insurance Commissioner Ricardo Lara today, said Consumer...

Consumer Groups Warn Lawmakers: Governor’s Insurance Bill Will Cost Californians Billions

June 6, 2024  ·  Carmen Balber

Sacramento, CA — Six consumer organizations warned state Senate and Assembly leaders that a budget trailer bill proposed by the governor would cut the public...

Governor’s Proposal Targets Prop 103’s Public Rate Review that has Saved Homeowners, Drivers, Doctors $6 Billion on Insurance

May 29, 2024  ·  Carmen Balber

A proposal by Gov Newsom would undercut independent public scrutiny of insurance rate increases and jeopardize Californians

Commissioner Lara Gives State Farm Green Light to Reduce Wildfire Mitigation Discounts and Avoid Explanation of How Homeowners’ Wildfire Risk is Determined

May 20, 2024  ·  Carmen Balber

Los Angeles, CA – Insurance Commissioner Ricardo Lara approved State Farm’s reduction of the discounts it offers homeowners for wildfire mitigation and freed the company from...