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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The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.