Laurence Darmiento covers finance, insurance, aerospace and dealmakers in Southern California for the Los Angeles Times. He joined the paper in 2015 as an assistant business editor and has overseen finance, real estate and Washington business coverage. Previously he had been the managing editor of the Los Angeles Business Journal and was a reporter for the Los Angeles Daily News and other outlets. A New York native, he is an alumnus of Cornell University.
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Consumer Watchdog sues Insurance Commissioner Ricardo Lara, alleging that rules he issued last year that will allow the California Fair Plan to charge policyholders for losses from the Jan. 7 fires violate state law.
Ten victims of the Palisades and Eaton fires sued the Fair Plan, accusing California’s insurer of last resort of mishandling smoke damage claims.
Trump’s worldwide tariffs are putting the squeeze on several high-profile L.A.-based toy makers and apparel companies.
Key drivers of Los Angeles’ economy — trade and logistics — will be hard hit by the tariffs announced by the Trump administration, economists say.
State Farm, already seeking an emergency 22% rate hike for its basic homeowners insurance, is now asking to raise the price of its umbrella liability coverage.
Elon Musk has benefited from his close alliance with Donald Trump, as the president has ousted federal officials who had overseen departments investigating the billionaire’s multiple companies.
The Pasadena Unified School District has filed a lawsuit against Southern California Edison seeking damages for the loss of school buildings and the costs of managing its response to the Eaton fire.
California Insurance Commissioner Ricardo Lara decided Friday to provisionally grant State Farm General’s request for a 22% hike in its homeowner insurance rates pending a formal rate hearing next month.
Los Angeles officials are reaching out to the local Armenian community for assistance with an ongoing investigation into allegations of discriminatory banking practices.