SACRAMENTO, Calif., June 12 -- The California Department of Insurance issued the following press release:
LOS ANGELES - Strengthening oversight to protect Californians' financial futures, Insurance Commissioner Ricardo Lara announced a public hearing on a new Long-Term Solvency Planning Regulation for the nation's largest insurance market. The regulation will help the California Department of Insurance keep insurance available despite natural catastrophes and technological changes that are emerging today and whose scope will expand in future years.
"The last decade has taught insurance regulators a hard truth: Resilience is not optional, it is a global responsibility," said Commissioner Lara. "California's go-it-alone approach on insuranc...