CA | Insurance Commissioner Ricardo Lara today announced several appointments to help drive forward the California Department of Insurance’s mission to protect consumers. These appointments include naming Lydia Missaelides as the newest member to the California Long Term Care (LTC) Insurance Task Force and reappointing Jesse Dogillo as a member of the Curriculum Board and Dr. Fabiola Cobarrubias as a member of the Insurance Diversity Task Force.
“I am very pleased to announce this appointment to the California Long Term Care Insurance Task Force and these reappointments to the Curriculum Board and Insurance Diversity Task Force,” said Commissioner Lara. “I am confident that my appointees are ready to get to work and provide their advice and diverse perspectives on how we can continue to protect consumers and ensure a healthy and diverse insurance industry in California.”
Created by the Governor’s signing of AB 567, the LTC Insurance Task Force, under Commissioner Lara’s leadership, is exploring how a statewide long-term care insurance program could be designed and implemented to help cover the cost of long-term care services for those who experience functional or cognitive disability. On December 22, 2022, the Task Force submitted a feasibility report to the Insurance Commissioner, the State Legislature, and the Governor with recommended options for a statewide long-term care insurance program design. Over the coming months, to ensure an adequate benefit within a solvent program, the Task Force will monitor the creation of an actuarial report prepared by Oliver Wyman, which will analyze and approximate the costs of each of the program design options contained in the completed feasibility report. If the Task Force approves the final actuarial report, it will be submitted to the Legislature by January 1, 2024. The Curriculum Board oversees the development of pre-licensing and continuing education curriculum for agents and brokers to uphold professional standards that protect consumers. This includes a list of preapproved courses of study as well as courses of study for professional designations. The Board also develops standards for providers and instructors who offer courses and other training to licensed agents and brokers.
The Insurance Diversity Task Force oversees the Department’s Insurance Diversity Initiative, which encourages insurers to increase procurement contracts with diverse business owners, such as woman-owned, veteran-/disabled veteran-owned, historically disadvantaged community-owned, or LGBTQ+-owned businesses, as well as advance diversity of insurance company corporate boards. The Task Force makes recommendations to the Insurance Commissioner regarding innovative ways to increase diversity within the insurance industry. The next LTC Insurance Task Force meeting will be held on Thursday, March 9, 2023. The next Curriculum Board meeting will be held on Thursday, June 15, 2023, and the next Insurance Diversity Task Force meeting will be held on Wednesday, March 15, 2023. More details are available at www.insurance.ca.gov/boards. All positions are uncompensated.