State Insurance Commissioner Ricardo Lara defended his proposed reforms, stating, "by mid-2025 in California, we (will) have insurance companies running back in every corner of the state." He emphasized the need to adjust the state's insurance rate-review system to address current challenges, including climate-induced disasters, stating, "Massive wildfires are burning just miles from where we sit, fueled by record-breaking heat waves and continued dry winds."
Consumer advocates expressed strong opposition to the proposed reforms, claiming that they jeopardize Proposition 103, which was established to keep insurance rates in check. Harvey Rosenfield, founder of Consumer Watchdog, stated, "The insurance industry spent 36 years trying to undercut Prop. 103, and they finally found an insurance commissioner willing to do the dirty work for them."
Crestline homeowner Gigi Bannister criticized the state insurance commissioner, saying, "He needs to hold the insurance companies' feet to the fire." Her comment reflects the frustration among California residents facing rising premium costs and reduced coverage amid the ongoing insurance crisis.
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