3 minute read
CEO’s Message
Insurance? Are we talking about Insurance? How can I, leading an organization that advocates for managers and management companies, NOT be talking about insurance when every manager in the CID business is dealing with this crisis in California. The hard reality is there is no easy or quick fix. But that certainly doesn’t mean we suck it up and do nothing. So, we’re starting with a conversation.
The FAIR Plan has had a surge of new policyholders, thereby increasing the plan’s exposure to a level where it would be impossible to pay claims without imposing assessments on millions of policies. I don’t think anyone would argue that the FAIR Plan needs changes.
At the 2024 Executive Leadership Summit (ELS) in April, we’re going to talk to Juliana Svetlana Juarez, Director of Community Outreach with the California Department of Insurance (CDI), about potential changes to the FAIR Plan and what regulations Commissioner Ricardo Lara is planning.
That conversation will be followed by a conversation with the CEO of the California Building Industry Association, Dan Dunmoyer, who sponsored a proposed bill, AB 2996, carried by Assemblymember Alvarez (D-San Diego), that proposes to legislatively make changes to the FAIR Plan if passed. In my continuing effort to work with CAI-CLAC, Kieran Purcell, the Co-Chair of CLAC and attorney with Epsten Law, will join this conversation. Lastly, it would be awkward to have a conversation about insurance without a top-notch insurance broker, so Charlotte Allen with Socher Insurance will also be joining us.
Interested in the legislative process or this particular proposed bill? The current Bill Tracking report can be found on our website along with a copy of this proposed bill.
As THE advocate for managers and management companies, our team and your Board of Directors understand your challenges. The CACM Board of Directors are all managers and management company executives working directly for managers and management companies. Our goal, and candidly this should be a universal goal, is to not only elevate the professionalism and success of managers, but to advocate in Sacramento to influence and impact policy and legislative issues that affect you, managers.
Interested in the legislative process and want to get involved? Email me at tfreeley@cacm.org. Managers play a major role in establishing and maintaining CACM’s position on bills and furthering CID management policy. I encourage you to be part of the process.
More to follow, for sure. I look forward to the opportunity to see you soon!
Respectfully,
