State Insurance Commissioner to Investigate Commercial Insurance Issue

Responding to the Association, State Insurance Commissioner Ricardo Lara has issued an information request from all commercial insurance carriers operating in California on the availability and cost of commercial insurance for business operating in California.  This follows meetings in Sacramento and in our office on the issue with Commissioner Lara, where the Association reported on the overwhelming lack of commercial insurance following the devastating wildfires in the state, and the cost of insurance that is available.  The Commissioner has given insurance companies 60 days to respond to the request with a deadline of June 14th, 2021.  While this is no guarantee our issue is going to be resolved this year, at least the Commissioner is following through on his promise to investigate the issue and put serious pressure on the insurance industry to not penalize those of us who have nothing to do with the wildfires.  Stay tuned for more details as the investigation continues.

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