SACRAMENTO, Calif., July 1 -- The California Department of Insurance issued the following press release:
LOS ANGELES-Insurance Commissioner Ricardo Laraapplaudedajudge's orderupholding his authority to protect consumers' accessand stabilizethestate'sinsurance market.Late yesterday,Los Angeles Superior Court Judge Tiana J. Murillorejected a lawsuit filed by Consumer Watchdog.The lawsuit challengedtwo Bulletins issuedby Commissioner Laraaimed atbreaking the cycle of insurance unavailability.Commissioner Lara'sactionsaddressed what a news story called a "hidden crisis" of insurance companies withdrawing from California due to fear of possible major assessments by the FAIR Plan after a major disaster.
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