News: 2007 Press Release

(Silicon Valley) --- Steve Poizner took the Oath of Office today, becoming California's new Insurance Commissioner. The inauguration took place in front of 500 of Silicon Valley's leaders at the Tech Museum of Innovation in downtown San Jose.

Former Bay Area State Senator and current Superior Court Judge Quentin Kopp administered the Oath to Poizner, who was joined by his wife Carol and their 15-year old daughter Rebecca.

Former San Jose Mayor Tom McEnery, Sheriff Laurie Smith, and Santa Clara University President Reverend Paul Locatelli participated in the ceremony.

Underscoring his effort to strike a bipartisan tone at the agency, Commissioner Poizner also announced today that key executive staff members from the previous administration, including Chief Deputy Rick Baum and General Counsel Gary Cohen have accepted his invitation to remain on board for the near term to ensure a smooth transition.

The post-Inaugural lunch entertainment featured comedian Kevin Pollak - a Silicon Valley native and veteran actor who has appeared in over 50 films. Pollak was recently named by Comedy Central as one of the top 100 comedians of all time.

Commissioner Poizner will travel this week to the Department of Insurance's three main offices (Sacramento, San Francisco and Los Angeles) to meet with the agency's 1,300 employees.

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Excerpts from Commissioner Poizner's Inauguration speech follow:

"We're holding this celebration in San Jose, rather than in Sacramento today because Silicon Valley is more than my family's backyard. It's where my dreams began when I first arrived here nearly 30 years ago.

"Silicon Valley is more than a place on a map. . . it's a mindset. Here, original thought is promoted . . . risk taking is encouraged…and creativity is embraced.

"Silicon Valley is also a collaborative community . . . people with diverse backgrounds and a shared vision pushing the envelope . . . testing and perfecting ideas that will make lives better for literally millions of people around the globe. "The theme of my campaign was 'the power of new ideas.' It is the expression of everything that Silicon Valley represents and it is this spirit I want to export to Sacramento and to our state government.

"Because if we don't . . . if we don't take a new approach to how the state does its business - and how our leaders go about their business . . . then California will no longer be at the forefront of progress and prosperity. And our children won't be able to experience the California dream as we have. The closest they'll come to it is in their history books.

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"One of my favorite books talks about this - maybe you've read it: "The World Is Flat", by Thomas Friedman. Friedman talks about big events and trends just in the last 20 years that have transformed world politics and economics: the Berlin Wall coming down . . . Netscape going public . . . insourcing, outsourcing and offshoring . . . 300 million new hard-working, highly educated competitors from India, China and Russia who can simply plug in to compete head-to-head with Californians.

"If Tom Friedman wrote a sequel 20 years from now, what would he have to say about the California of today?

"Will he write that we used this time to build a more powerful, durable economic engine and improve our social structure so that every citizen has the opportunity to be well-educated and fully employed?

"Or will he conclude that California lost out permanently… because we suffered from a major design flaw - namely, a political system that was too partisan, too controlled by special interests, and too self-absorbed to realize that urgent action was needed?

"I intend to run the Department of Insurance in a non-partisan manner, independent and citizen-focused. Our mantra will always be "California First".

"The Insurance Commissioner is one of the very few jobs that has a very real impact on the well-being of every individual, family and business in the state of California.

"The Insurance Commissioner regulates close to 15% of the entire California economy - everything from workers comp to life insurance.

"Insurance must be made available to all Californians at fair and reasonable prices.

"Essential to that goal is an insurance marketplace where competition is robust, and insurance companies are held accountable for solvency, for claims practices, and for representations and recommendations they make.

"I'll build upon the strong foundation at the California Department of Insurance to make it the single best consumer protection agency in the country.

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"Initially, we will focus on three major initiatives.

"First, we must divorce the job from 'politics as usual'. Consumer protection is not a Republican or a Democratic affair.

"When I return to Sacramento, I'll call upon the Legislature to officially make this office non-partisan - just like California's Superintendent of Public Instruction.

"In addition, this office must always be fiercely independent from those being regulated. I didn't take money from insurance companies in my campaign. I won't accept their donations during my tenure. To do so would be like refereeing a game while being on one of the team's payroll. When I return to Sacramento, I'll ask the Legislature to pass a new law banning contributions to my office from those who are regulated by, or do business with, the Department of Insurance.

"Second, I'll fight to lower insurance rates by aggressively attacking insurance fraud. Right now, insurance fraud takes $500 out of the pocket of every man, woman and child in this state. I'll enhance the capacity of the fraud units in my department to find and shut down insurance scam operations.

"And I will work with District Attorneys around the state to make the fraud unit so effective, and so renowned, that in California, criminals will be looking for honest work….. or they will be looking through the bars of a prison cell.

"Third, I will work with the Governor and the state legislature to help prepare the state for the next major natural disaster. Hurricane Katrina was a huge wake up call. Yet experts believe that California is less prepared for a major disaster than Louisiana was. This needs to change.

"Last year marked the 100th anniversary since the great San Francisco earthquake of 1906 - one of the worst natural disasters ever in the history of our country . . . 8.25 on the Richter scale.

"It's time to review the insurance coverage offered by the California Earthquake Authority, especially given the fact that only one in eight homeowners in California even has earthquake insurance.

"This is the challenge I've accepted - transforming the post of Insurance Commissioner from simply a compliance officer… into the state's Chief Risk Manager.

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"I think it's fair to say that you and your fellow Californians have taken out a four-year policy on me. Here's what that policy entitles you to: an Insurance Commissioner guided by a nonpartisan compass . . . committed to driving down the cost of insurance for everyone . . . and doing what it takes to prepare for the future…

"On behalf of Carol and Rebecca, thank you for joining me today. And thank you for joining with me to continue building upon this remarkable start-up that we call California."

For more information about the Commissioner Poizner and the Department of Insurance, visit www.insurance.ca.gov.