Insurance

It’s one product you purchase hoping you’ll never have to use. Depending on where you live and what type of lifestyle you lead, you may need different types of insurance coverage to adequately protect you and/or your property from loss or damage. For instance, earthquake insurance is available for residents in California. If you spend a good deal of time on the road, you may want to consider extended auto insurance to ensure recovery from damage.

In California, the California Department of Insurance (CDI) licenses and regulates the rates and practices of insurance companies, agents and brokers in the state. Currently, CDI licenses more than 1,500 insurance companies and more than 340,000 agents and brokers. The CDI has authority over how the insurance industry conducts business within California with specific oversight, including:

• Enforcement – legal action is the ultimate enforcement instrument of the Department.

• Consumer protection

• Licensing

• Criminal investigations

• Certificates of authority

• Conservation and liquidation

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Insurance