CA Insurance Commissioner Ricardo Lara talks home insurance following Los Angeles wildfires

CA Insurance Commissioner Ricardo Lara talks home insurance following Los Angeles wildfires

[JoeR-mq]

SMH ..least qualified person to be insurance commissioner.

[daviddaniels]

Ricardo has used the office for extensive trips nothing to do with insurance he should be fired

[The_Reverendx]

Obviously the fire damage itself is not Ricardo Lara’s fault.

But there is no doubt that he and California voters are to blame for the ensuing homeowners insurance crisis in California. Lara refused to approve rate updates from carriers for years. Carriers knew that without rate increases they would go upside down in the event of a catastrophic loss. Carriers were then left to decide if they would maintain that over-leveraged riskiness or if they would non-renew policies and leave the state. Guess what many obviously chose.

The insurance commissioner’s office is an elected position in California. Californians decided to elect someone to this position who had absolutely NO prior experience in the insurance industry. There should be no surprise that things haven’t gone well. Hopefully voters learn and take this office more seriously in the future.

[SteveinSanFrancisco]

How nice of him to do a zoom call from a beach in another country... What a trooper

[lizbystrom]

Sir, you are the Insurance Commissioner. This problem started in 2022 with the insurance companies. What have you been doing?

[LindaBarton]

Cancelling state farm
Along with many in Texas.

[JoseRamirez-ouzx]

Oprah Winfrey Ready to Buy up Real estate

[stephenb.]

rates will go up 400% because of Lara who gets wined and dined by the big 5 insurance companies

[stephenb.]

my home owners up 100$ in one year and I am surrounded by miles of ag fields that do NOT burn and never have