Statement by Insurance Commissioner Ricardo Lara on Federal Supplemental Stimulus Bill
News: 2020 Press Release
SACRAMENTO, Calif. – Insurance Commissioner Ricardo Lara issued the following statement on the passing of the federal supplemental stimulus bill today:
“The health impact, financial loss, and economic pain felt by countless families, workers, and businesses across California due to the coronavirus pandemic has been incredibly destructive on the state’s economy and financial infrastructure. Today’s passing of the federal stimulus bill will bring critical relief to millions of California families, workers, and business owners who have been devastated by the COVID-19 crisis.
“In the coming days and weeks, as more small businesses and their employees suffer the financial sting of lost revenues and massive unemployment, it’s critical that the insurance industry engages with our Department and state’s businesses on creative solutions to help them survive the extraordinary challenge we face together as Californians. The scope and magnitude of this crisis will require that we all work together to support our workers and small business community. Collectively, we must find a way forward and move California back toward recovery.”
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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.