US EditionCalifornia’s Insurance Commissioner Proposes Rule Critics Call ‘Revenge’
The proposal aims to speed up rate approvals and reduce cancellations in wildfire zones but faces criticism for possibly enabling faster premium hikes, with Consumer Watchdog citing $6 billion saved since 2002.
- Last week, California Insurance Commissioner Ricardo Lara proposed altering the insurance rate‑review process by setting new timelines, tightening intervenor compensation standards, and limiting administrative law judges' authority.
- Facing insurer complaints about slow approvals, insurance companies and the American Property Casualty Insurance Association support fixing the `broken intervenor process`, while Ricardo Lara aims to increase transparency and availability in wildfire-risk areas.
- Consumer Watchdog, nonprofit consumer advocacy group, says it received $14.2 million under the intervenor system to pay attorneys and actuaries.
- Critics warned the plan is `vindictive` and could ease insurer rate increases, and Michael Soller said Consumer Watchdog `will have a chance to say what they have to say` during the public comment period starting Oct. 3, with a hearing scheduled for Nov. 20.
- The dispute has produced lawsuits and mutual accusations of self‑enrichment, and Jamie Court said Lara's term expires next year and `he's exacting his revenge`.
19 Articles
19 Articles
California’s insurance commissioner proposes rule critics call ‘revenge’
California Insurance Commissioner Ricardo Lara is proposing more new insurance rules that critics are calling “vindictive,” and which they say will only make it easier for insurers to raise rates. Home insurance costs in California are certain to rise in the near future because of Lara’s recent changes to the state’s insurance rules. Those changes are meant to encourage insurance companies to keep writing new policies and discourage them from ca…
Times of San Diego
StocktoniaCalifornia insurance commissioner proposes rule that critics call ‘revenge’
Insurance Commissioner Ricardo Lara has sparred with Consumer Watchdog, which says his proposed rule altering the rate-review process is retaliatory.
Cal Matters
Ricardo Lara proposes insurance rule that critics call ‘revenge’
California’s insurance commissioner has sparred with Consumer Watchdog, which says his proposed rule is retaliatory.
CalMatters - Ricardo Lara proposes insurance rule that critics call ‘revenge’
By Levi Sumagaysay, CALMATTERS California Insurance Commissioner Ricardo Lara is proposing more new insurance rules that critics are calling “vindictive,” and which they say will only make it easier for insurers to raise rates. Home insurance costs in California are certain to rise in the near future because of Lara’s recent changes to the state’s insurance […] The post CalMatters – Ricardo Lara proposes insurance rule that critics call ‘revenge…
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