Insurance Diversity Surveys & Reports

In September 2021, Senate Bill (SB) 655 authored by Senator Steven Bradford and sponsored by California Insurance Commissioner Ricardo Lara was signed by California Governor Gavin Newsom. The California Insurance Diversity Survey (CAIDS) propels the mission of the California Department of Insurance's (Department) longstanding & nationally recognized program that advances diversity, brings greater transparency, and opportunities between the nation's largest insurance market and businesses owned by women, LGBTQ+ people, persons with disabilities, veterans, disabled veterans, and historically underrepresented people.

California Insurance Code section 927 et seq. requires insurance companies to submit data on their governing board policies and programs, supplier diversity policies and programs, and dollars spent with diverse suppliers. These first-in-the-nation insurance Diversity Surveys generate transparency on the state of diversity in California's insurance industry.

CDI believes “What Gets Measured, Gets Done.” The mere act of asking insurance companies these questions, plants the seed of change. The data analysis has shown tremendous progress. Since 2012, survey results indicate a 233% increase in diverse spend by California insurers with diverse businesses, from $930 million to $3.1 billion in 2023.

The latest results from the 2024 CAIDS continue to highlight the gaps & opportunities towards advancing diversity across California's insurance industry.