Commissioner Lara reappoints board members for COIN and WCIRB
News: 2019 Press Release
SACRAMENTO, Calif. — Insurance Commissioner Ricardo Lara today announced two reappointments to the California Organized Investment Network (COIN) Advisory Board and one reappointment to the Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee.
Both the COIN Advisory Board and the WCIRB Governing Committee met yesterday for the first time under Commissioner Lara’s administration.
“My department is committed to socially responsible investing in our communities and environment, and to keeping the costs of workers’ compensation insurance affordable for businesses and their employees,” said Commissioner Lara. “Our board members are critical to ensuring we are accountable to the people of California.”
Douglas Bystry is the President and CEO of the Clearinghouse CDFI, a for-profit community development financial institution. Mr. Bystry is considered an expert in affordable housing, community development and New Markets Tax Credit lending. He was first appointed to the COIN Advisory Board in March 2012.
Nick Roxborough is the Co-Managing Partner of Los Angeles based law firm of Roxborough, Pomerance, Nye & Adreani, LLP. Over three decades, Mr. Roxborough has obtained numerous trial and appellate decisions concerning the insurance industry. He was first appointed to the COIN Advisory Board in March 2013.
Mitch Steiger is the Legislative Advocate for the California Labor Federation, representing trade union interests to statewide officials and state legislators. He was first appointed to the WCIRB Governing Committee in April 2011.
About COIN and the WCIRB
Established in 1996, the California Organized Investment Network (COIN) guides insurers on making safe and sound investments that yield environmental benefits throughout California and social and economic benefits within the state's underserved communities. The COIN Advisory Board—consisting of the Insurance Commissioner and several leaders in insurance, economic development, impact investments, and consumer advocacy—provides focus and guidance to the Commissioner and COIN to meet its mission.
The Workers’ Compensation Insurance Rating Bureau (WCIRB) is a private organization licensed by the Department of Insurance for the purpose of collecting, analyzing and compiling rating data, funding comes from assessments of the insurer members. All workers' compensation insurance companies in California are required by law to be members of the bureau.
The WCIRB Governing Committee sets policy, oversees management of the affairs of the WCIRB, and oversees all issues involving pure premium rates, classifications, rating plans, rating systems, manual rules and policy, and endorsement forms.
Led by Insurance Commissioner Ricardo Lara, the California Department of Insurance is the consumer protection agency for the nation's largest insurance marketplace and safeguards all of the state’s consumers by fairly regulating the insurance industry. Under the Commissioner’s direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, resolve consumer complaints, and investigate and prosecute insurance fraud. Consumers are urged to call 1-800-927-4357 with any questions or contact us at www.insurance.ca.gov via webform or online chat. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.
