Insure Our Future Campaign Calls on Insurance Companies to Cut Ties with Fossil Fuels in the Wake of Climate-Related Rate Hikes and Policy Cancellations
Los Angeles, CA -- As the 2019 wildfire season begins, many homeowners in at-risk areas have once again seen their insurance rates go up, or their insurance policies dropped altogether
Release of Lara's Calendar and Public Records Suggest Lara Made First Contact In “Pay to Play” Insurance Scandal
UPDATE: 9/20 Consumer Watchdog sent this letter to the California Attorney General and District Attorneys for Sacramento, San Francisco and Los Angeles along with the information below.
Ricardo Lara Puts Brakes On California's Climate Leadership
Los Angeles, CA — On Earth Day, California Insurance Commissioner Ricardo Lara chose “collaboration" with the insurance industry over urgent climate action. Commissioner Lara rejected a petition from 60 environmental, consumer and social justice groups that sought emergency rules to make insurers disclose the fossil fuel projects they insure. The Commissioner's refusal to act allows insurers to keep their complicity in global warming secret and puts the brakes on the forward momentum on climate built by the previous Department of Insurance, said Consumer Watchdog.
Assembly Insurance Committee Members Vote to Strip Insurance Consumers of their Privacy Rights; Pass “Peeping Tom” Bill to Exempt Insurers From New Privacy Act
Sacramento, CA — The members of the Assembly Insurance Committee voted unanimously today to pass AB 981 and exempt the entire insurance and financial services industries from California’s new Privacy Act.
A troupe of mimes dressed as insurance company mascots tracked lawmakers and lobbyists outside the hearing room to dramatize how the bill, sponsored by Committee Chair Tom Daly, would allow insurers to violate their policyholders' privacy.
Push To Exempt Insurance Companies From California Privacy Law By Assembly Insurance Chair Tom Daly
Los Angeles, CA — Today Consumer Watchdog called on Assembly Insurance Committee Chair Tom Daly to withdraw legislation (AB 981) that would exempt insurance companies and banks from complying with the California Consumer Privacy Act.
The Privacy Act will take effect in January and empowers consumers to prevent their personal information from being sold to other companies, as well as allowing consumers to sue reckless companies for data breaches.
Top 10 US Insurance Companies Invest $51 Billion In Fossil Fuels
Los Angeles, CA — As a UN panel finds the world is losing the war with global warming and urgent action is needed, US insurance companies have reported holding more than $50.9 billion in fossil fuel investments that exacerbate climate change, according to reporting to national insurance regulators.
Consumer Watchdog’s review of public filings reveals nine of the 10 largest American insurance companies have considered the impact of climate change on their investments, but only two, AIG and Farmers, say that they have altered their investment strategy in response.
