SACRAMENTO — Mercury Insurance Co. is ending its two-decade battle with California regulators over extra fees charged to customers by agreeing to pay the state more than $41 million, California Insurance Commissioner Ricardo Lara said Wednesday. He said it’s the largest property and casualty penalty and interest payment in the...
Walters: Tone-Deaf Insurance Czar Lara and His Critics
During his first months as the state’s elected insurance commissioner, Ricardo Lara was rocked by disclosures that he had accepted more than $50,000 in campaign contributions from insurance industry sources after pledging to shun such dealings during his campaign. It was not exactly a scandal, since there’s nothing illegal about...
CA Insurance Commissioner 'Sorry' for Taking Industry Donations
SACRAMENTO — California's insurance commissioner apologized Tuesday for accepting campaign contributions from the insurance industry and announced reforms for his office and campaign. Democrat Ricardo Lara had promised during his campaign not to accept contributions from the industry he is responsible for regulating. But he has taken at least $50,000...
Insurance Claims from Deadly California Wildfires Top $12B
SACRAMENTO — Insurance claims have topped $12 billion for the November wildfires in California, making them the most expensive in state history. The figure released Wednesday by Insurance Commissioner Ricardo Lara covers the fire that largely destroyed the town of Paradise and two Southern California blazes. It's up about $600...
Lara Becomes State Insurance Czar in History Making Election
SACRAMENTO — Democratic state Sen. Ricardo Lara has defeated Republican-turned-independent Steve Poizner to become the state's next insurance commissioner, according to new vote totals. Vote counts updated since Election Day made Lara the winner with nearly 4.9 million votes, or 51.6 percent. Lara Is First Openly Gay Statewide Officeholder Lara...