Governor Gavin Newsom declared a state of emergency Thursday over the property insurance availability crisis in California, and Insurance Commissioner Ricardo Lara vowed to use that declaration to speed the promulgation of emergency regulations that could restore competitive health to the market.
One week after the Legislature adjourned for the year without passing legislation to address the crisis, the Governor and Insurance Commissioner announced their intention to move forward with administrative and regulatory actions to implement key elements of a plan negotiated by key stakeholders that failed to materialize in a bill before the session ended. Read more