SACRAMENTO, Calif. — California Insurance Commissioner Ricardo Lara was in Bermuda when he decided to skip an oversight hearing with state lawmakers at the capitol earlier this week.
Lara attended the Bermuda Risk Summit, an event in the Caribbean that is held by members of the insurance and reinsurance industry.
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Bermuda Reinsurance Magazine reported Lara was at the conference that ran from March 10 – 12, where he discussed the impact of the devastating and expensive Los Angeles wildfires and said the fires caused $28 to $53 billion in insured damage. Riccardo also reportedly gave an impromptu speech there on his recent reforms and California’s FAIR Plan.
“Just as the original concept of insurance was so revolutionary and creative, we are once again called to be bold and creative at this pivotal moment in our history and I hope you will join me in that effort,” Lara reportedly said at the summit.
It’s not clear if Lara is back yet from the Caribbean. The California Department of Insurance has not responded to multiple requests for comment as of Friday night. Earlier Friday, Lara announced he may approve State Farm’s request for an emergency rate hike with conditions.
On Wednesday, Lara had two high-ranking officials from the Department of Insurance testify on his behalf during the very first hearing of the year on the state’s insurance crisis in the State Senate.
Michael Martinez, the Senior Deputy Commissioner with the Department of Insurance, told Senators only that the Commissioner had a scheduling conflict, but never mentioned Bermuda.
Ricardo Lara ,,,, JUST ANOTHER LIFER sucking on the benefits they vote themselves.
OH THAT IS RIGHT that goes for most Democrats who run for office.