The California Insurance Commissioner Ricardo Lara, did not appear to Tesday at an audience that he had demanded on the stages of State Far proposals for home insurance following recent forest fires in Los Angeles.
State Farm and other insurers have been leaving the State and canceling existing policies in recent years, since California has prevented them from increasing premiums to account for future risks, which forces them to lose money.
As a result, many homes in Los Angeles, especially in Pacific Palisades, lost their insurance in the months or even days before the Palisades fire on January 7. Some were forced to use the public option, the California Fair plan, which covers much less; Others were left without any insurance. Lara finally announced new rules in December that would allow insurers to set the future risk in their premiums, but the change was too late for many owners.
Last month, Lara “provisionally” granted the state farm permission to increase the rates of 22%, but demanded that he explain his decision “at an open and transparent hearing scheduled for April 8.
However, on the day of the state farm audience, according to the affiliate of the Bay area, Kgo, Lara was absent:
The main state insurance head, the insurance commissioner Ricardo Lara, was not present.
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7 On his side he attended the audience on Tuesday with the expectation of seeing the commissioner to hear arguments from both parties, specifically the data requested from State Far to prove that the thesis increases are justified.
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State Farm is now asking for an average increase of 17% of rates for farmers, 15% for Roders and up to 38% for rental goods, arguing that the increase is necessary to rebuke capital after the fires of the Los Angeles County.
As Breitbart News pointed out at that time, Lara had already skipped a relevant legislative hearing last month to attend a conference with insurance executives in Bermuda.
Lara was chosen in 2018 and re -elected in 2022. He called himself the “first openly gay person to be chosen for the state position in the history of CA” on his Instagram page, and adds that he is also a “fighter for consumer rights.”
Joel B. Pollak is a senior editor in general in Breitbart News and the host of Breitbart News Sunday In Sirius XM Patriot on Sundays at night from 7 pm to 10 pm et (4 pm at 7 pm pt). Hey is the author of The agenda: What Trump should do in its first 100 daysAvailable for pre-pedd at Amazon. He is also the author of Trump’s virtues: the lessons and legacy of the presidency of Donald TrumpNow available in audible. He is a winner of the student community of journalism Robert Novak 2018. Follow it on Twitter in @joelpollak.
