Lara defended the reforms, stating that by mid-2025 insurance companies would return to California's market, which has faced significant withdrawals from major providers over the past two years.
Homeowners and community advocates criticized Commissioner Lara, claiming he's failing to address the alarming rise in insurance premiums and calling for stronger regulations to protect consumers.
Residents have faced premium increases as high as 1,000 percent, forcing many to seek state-sanctioned FAIR coverage, which comes at a higher cost than traditional policies.
Bruce Breslau expressed the dire situation for homeowners, highlighting the necessity for a law to encourage regulated insurers back into the market for fairer premiums.
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