Insurance Commissioner Lara’s 2023 regulatory overhaul promised to ease California’s insurance crisis but instead delivered major concessions to the industry.
Under Lara’s watch, the state’s insurer of last resort exploded from 123,657 policies in 2019 to over 645,000, leaving January wildfire victims underinsured.
Six of nine insurers filing under new rules add zero new policies in high-risk zones despite receiving the requested rate increases.