California Insurance Commissioner Ricardo Lara Abandons Fire Victims for Bermuda Junket with Insurance Execs

California Insurance Commissioner Ricardo Lara stole a junk last week for Bermuda, instead of testifying in a state legislative hearing, selected to attend a conference of insurance officers, in which the fire victims are still in Limbo.

NBC affiliated, KCRA -3, Sacramento said:

California’s Insurance Commissioner Ricardo Lara was in Bermuda when he decided to give up an oversight hearing with state MPs earlier this week.

Lara attended the Bermuda Risk Summit, an event in the Caribbean that is conducted by members of the insurance and rehabilitation industry.

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It is not clear whether Lara is yet back from Caribbean. The Insurance Department of California has not responded to several requests for comments till Friday night. Earlier on Friday, Lara announced that he could approve the request of the State Farm for an emergency increase with conditions.

Lara on Friday gave the state farm the ability to increase insurance rates up to 22%.

He was recently criticized – by Democrats – to be very close to the insurance industry. HIE replied that he was tired of being “white manplane” about how to do his job.

Lara gave a lecture at the conference in Bermuda in which he emphasized the importance of “leadership” by regulators.

He said, “This is a suitable moment for regulators and insurers that we provide the necessary leadership to face those challenges and provide the necessary leadership to solve the challenges facing us,” he said.