Sacramento, CA – Insurance Commissioner Ricardo Lara has reappointed several key members to the California Insurance Guarantee Association (CIGA) Board of Governors, further emphasizing the California Department of Insurance’s commitment to protecting consumers.
Key Reappointments to Strengthen CIGA Leadership
To enhance leadership, Commissioner Lara announced the reappointments of Richard de la Mora, Jennifer Schnittjer, and Deepika Srivastava to the CIGA Board of Governors. These individuals bring extensive expertise and a proven history of success, which ensures continued stability and oversight of CIGA’s operations.
“Their leadership is critical to maintaining CIGA’s role as a safety net for California’s insurance consumers,” stated Commissioner Lara. “Additionally, I am confident they will uphold the association’s mission of protecting policyholders from significant financial losses.”
The Role of the CIGA Board of Governors
Established in 1969 by the Governor and the California State Legislature, the CIGA Board of Governors oversees the association’s operations and management. As a result, it ensures protection for policyholders if an insurance company becomes insolvent. Moreover, CIGA includes all insurers admitted to sell homeowners, workers’ compensation, automobile, and other specified property and casualty lines of insurance within California.
Upcoming CIGA Board Meeting
Looking ahead, the next CIGA Board of Governors meeting is scheduled for February 4 and February 5, 2025. During this meeting, board members will discuss critical updates to safeguard the interests of policyholders and address ongoing challenges within the insurance industry. Furthermore, these discussions aim to promote transparency and proactive solutions.
Supporting Consumer Protection
By reappointing experienced leaders, Commissioner Lara reaffirms the Department’s dedication to ensuring the Board of Governors remains a pillar of consumer protection in California. Consequently, these efforts help guarantee financial security for policyholders in challenging circumstances.
For more details, visit the California Department of Insurance website. Alternatively, explore MedLegalNews.com for the latest updates on insurance and legal intersections.
Source: California Department of Insurance.
