Ricardo Lara

COMMISSIONER LARA APPROVES NEW COVERAGE OPTIONS FOR FARMS AND AGRICULTURAL BUSINESSES UNDER FAIR PLAN

Insurance coverage will be available starting February 1st for farm owners, wineries, and other outdoor businesses previously ineligible  

East County News Service

January 21, 2022 (Sacramento) -- Acting to address the growing needs for a competitive insurance market for farm owners, wineries, ranchers and other outdoor agricultural businesses, Insurance Commissioner Ricardo Lara today approved the FAIR Plan to offer new commercial coverage for farm structure risks starting February 1, 2022. The FAIR Plan is an association made up of all admitted insurance companies to be the state’s property “insurer of last resort.”


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COMMISSIONER LARA EXTENDS ORDER FOR INSURANCE COMPANIES TO PARTIALLY REFUND PREMIUMS

East County News Service
Photo: creative commons via Bing
 
May 16, 2020 (Sacramento) – California Insurance Commissioner Ricardo Lara has issued a Bulletin extending his previous order requiring insurance companies to return partial insurance premiums to consumers and businesses and provide financial relief amid the COVID-19 pandemic. 
 
The Bulletin now includes the month of May, having already included the months of March and April, covering at least six different insurance lines: private passenger automobile, commercial automobile, workers’ compensation, commercial multi-peril, commercial liability, medical malpractice, and any other insurance line where the risk of loss has fallen substantially as a result of the COVID-19 pandemic. 

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INSURANCE COMPANIES MUST ISSUE REFUNDS TO CALIFORNIANS IMPACTED BY COVID 19 FOR AUTO, BUSINESS, AND OTHER POLICIES

By Miriam Raftery

April 18, 2020 (Sacramento) --  With many businesses closed or having employees work at home, California Insurance Commissioner Ricardo Lara has found that risks of losses are reduced. So on April 13, the Commissioner ordered insurance companies to issue refunds or credits within 120 days to policyholders adversely affected by COVID-19 including:

  • Private passenger and commercial automobile insurance
  • Workers’ compensation insurance
  • Commercial liability insurance
  • Commercial multiple peril insurance
  • Medical malpractice insurance
  • Any other lines of coverage where risks have dropped due to the pandemic.

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Support community news in the public interest! As nonprofit news, we rely on donations from the public to fund our reporting -- not special interests. Please donate to sustain East County Magazine's local reporting and/or wildfire alerts at https://www.eastcountymedia.org/donate to help us keep people safe and informed across our region.

WILDFIRE INSURANCE CRISIS LEADS COMMISSIONER TO CALL FOR FIRST-EVER STATEWIDE NON-RENEWAL MORATORIUM

Action to head off growing insurance availability crisis follows passage of new law and Governor’s emergency declarations 
 
Source: California Insurance Commissioner’s office
 
December 7, 2019 (Sacramento) -- Insurance Commissioner Ricardo Lara has issued a mandatory one-year moratorium on insurance companies non-renewing policyholders--helping at least 800,000 homes in wildfire disaster areas in Northern and Southern California. The commissioner’s action is the result of Senate Bill 824—authored last year by Lara while serving as state senator—in order to give temporary relief from non-renewals to residents living near a declared wildfire disaster. This is the first time the department has invoked the new law, which took effect in January. 
 

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