Commissioner Lara Proposes Minimal Oversight, Secrecy of Black-Box Wildfire Insurance Models
Consumer Watchdog » Insurance
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1w ago
Proposed Regulation Will Raise Rates but Will Not Stop Home Insurance Companies’ Market Boycott, Says Consumer Watchdog Los Angeles, CA – Insurance Commissioner Ricardo Lara’s proposal to let insurance companies use private black-box models and AI to predict the risk ..read more
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Commissioner’s Secret Cat Model Plan
Consumer Watchdog » Insurance
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1w ago
Imagine if the IRS were allowed to base your taxes on its own “projections” of your income. And you were not allowed to check the math.  That’s the gist of Insurance Commissioner Ricardo Lara’s long-awaited insurance plan: let insurance ..read more
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New Consumer Alert Video Warns Insurance Commissioner’s Deal Won’t Get Homeowners Real Coverage
Consumer Watchdog » Insurance
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1w ago
Scant “UNFAIR Plan” Policy is the Most Insurers Would Have to Sell  Los Angeles, CA – In a consumer alert video released today Consumer Watchdog warns that a low-benefit, high-cost, FAIR Plan-like policy is the best homeowners can hope to ..read more
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Commissioner Lara Gives State Farm Green Light to Reduce Wildfire Mitigation Discounts and Avoid Explanation of How Homeowners’ Wildfire Risk is Determined
Consumer Watchdog » Insurance
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1w ago
 Los Angeles, CA – Insurance Commissioner Ricardo Lara approved State Farm’s reduction of the discounts it offers homeowners for wildfire mitigation and freed the company from detailing to consumers in writing the wildfire risk factors that are used to ..read more
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How Citizen Enforcement of Proposition 103 has Saved Californians $5.5 Billion – and Why the Insurance Industry Hates It
Consumer Watchdog » Insurance
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1M ago
When California’s insurance regulator operated behind closed doors, the insurance companies always won. Insurance premiums soared, people were denied insurance for no legitimate reason, and insurance companies reaped windfall profits. That’s why, when California voters passed the nation’s ..read more
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Consumer Alert — Insurance Attack
Consumer Watchdog » Insurance
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1M ago
The insurance industry is trying to do away with a law that has saved Californians billions of dollars on our car and home insurance premiums ..read more
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Consumers Who Harden Homes to Reduce Wildfire Risk Must Have a Right to Buy  Insurance, Consumer Watchdog to Testify before Little Hoover Commission
Consumer Watchdog » Insurance
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1M ago
Sacramento, CA – California must require insurance companies to sell home insurance to homeowners who protect their homes from wildfire in order to restore consumers’ access to affordable coverage, Consumer Watchdog executive director Carmen Balber will testify in comments ..read more
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Watchdog Renews Call on Insurance Commissioner Lara to Mandate Insurance Companies Disclose the Fossil Fuel Projects They Insure
Consumer Watchdog » Insurance
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1M ago
Lara Rejected Petition from Over 60 Groups to Require Disclosure in 2019 Los Angeles, CA - Insurance Commissioner Ricardo Lara must hold insurance companies accountable for their contributions to the climate crisis by mandating disclosure of the fossil fuel projects they ..read more
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As Drafted, Insurance Commissioner’s Proposed Rules for Insurance Catastrophe Models Preserve Secrecy of Black Box Models
Consumer Watchdog » Insurance
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2M ago
Los Angeles, CA - Consumer Watchdog issued the following statement about the proposed catastrophe modeling rules released by Insurance Commissioner Ricardo Lara today. “Black box catastrophe models are notoriously contradictory and unreliable, which is why public review and transparency ..read more
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Study: Public Scrutiny Has Saved Californians Over $5.5 Billion on Home, Auto Insurance Since 2002, Including $885 Million at Year-End
Consumer Watchdog » Insurance
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4M ago
Seeking Billions in Premium Increases, Insurance Industry Targets Law that Gives Consumers a Say in Insurance Pricing Los Angeles, CA – Consumer Watchdog, a non-profit citizen organization, has saved state consumers $5.5 billion over the last 21 years using a ..read more
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