Commissioner Lara announces appointments to the CIGA Board of Governors and the Curriculum Board
News: 2026 Press Release
SACRAMENTO, Calif. — Insurance Commissioner Ricardo Lara today announced several appointments to help drive forward the California Department of Insurance’s mission to protect California consumers.
These include naming newly appointed member Stephanie Chan and reappointed member Timothy Hyman to the California Insurance Guarantee Association (CIGA) Board of Governors, and Suzanne Wakamoto-Lee as the newest member of the Curriculum Board.
“I am pleased to announce these appointments to the CIGA Board of Governors and the Curriculum Board,” said Commissioner Lara. “Each of these individuals brings valuable experience and perspective that will strengthen our work to protect consumers and support a healthy, competitive, and diverse insurance marketplace for all Californians.”
The CIGA Board of Governors oversees the guarantee association’s general operations and management in order to protect policyholders in the event of an insurance company insolvency. Established in 1969 by the Governor and California State Legislature, CIGA comprises all insurance companies admitted to sell homeowners, workers’ compensation, automobile, and other specified property and casualty lines of insurance in California.
The Curriculum Board oversees the development of pre-licensing and continuing education curriculum for agents and brokers to uphold professional standards that protect consumers. This includes a list of preapproved courses of study as well as courses of study for professional designations . This Board also develops standards for providers and instructors who offer courses and other training to licenses agents and brokers.
The next CIGA Board of Governors meeting is February 4, 2026 and the next Curriculum Board meeting is February 19, 2026.
More details are available at: www.insurance.ca.gov/boards. All positions are uncompensated.
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Media Notes:
Appointees include:
CIGA Board of Governors:
Stephanie Chan is Chief Investment Officer at the State Compensation Insurance Fund (SCIF) where she is responsible for managing SCIF’s $20 billion investment portfolio, as well as the Treasury and Investment operations. Prior to working at SCIF, Chan had several years of public accounting and auditing experience working at the California Bureau of State Audits as Senior Auditor. She is a Chartered Financial Analyst charterholder and a Certified Public Accountant. Chan has been appointed to the CIGA Board of Governors in a member insurer representative seat with a term ending on December 31, 2028.
Timothy Hyman is Vice President, Product Analytics at American Family Insurance. He joined American Family in 2015 and has served in several leadership roles within product management. Prior to joining American Family, Hyman served as Vice President of Enterprise Business Operations at North Carolina-based National General Insurance Company where he focused on new product integration, digital experience development, and other duties tied to operational excellence. He has a broad set of financial service experiences including independent agent, licensed/registered investment consultant, variable insurance wholesaler, and property and casualty product manager. Hyman has been reappointed to the CIGA Board of Governors in a member insurer representative seat with a term ending on December 31, 2028.
Curriculum Board:
Suzanne Wakamoto-Lee is Owner of Cloud Benefits Consulting. Wakamoto-Lee has over 30 years of experience working in health insurance, currently specializing in Medicare plans. She serves as a board member of Ellevate Foundation, an organization with the mission of fostering leadership by providing tools, resources, and events for both existing and aspiring female leaders, and is a member and past board president of the California Agents and Health Insurance Professionals, the largest chapter of the National Association of Benefits and Insurance Professionals. Wakamoto-Lee has been appointed to the Curriculum Board in the life agent trade association representative seat, with a term ending on January 30, 2029.
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.
