February 18, 2026 Assembly Insurance Committee

California State Assembly Insurance Committee · February 18, 2026

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Opening and hearing purpose

Presentation

31:48 → 32:36(48s)

Chair (unnamed in transcript; first speaker) called the oversight hearing of the Department of Insurance, noting this is the sixth hearing on the insurance commissioner's Sustainable Insurance Strategy and invited Commissioner Ricardo Lara to testify.

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Insurance Commissioner Ricardo Lara told the California State Assembly Insurance Committee that the department's Sustainable Insurance Strategy (SIS) is producing early signs of market stabilization after recent urban wildfires, citing faster claims payments, several approved insurer filings and a multi-year timeline to structural recovery.

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Transcript

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