Insurance Hour
KCAA: Insurance Hour (Thu, 1 Aug, 2024)
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With me, your host, Carl Sussman, informing, educating, and entertaining Californians one policy at a time, this is insurance hour. Hello, hello, this is insurance hour. I am your host, Carl Sussman. Thank you so much for being here. The phone lines are open, 559-656-0317. You can also send your questions in to questions@insurancehour.com. And of course, if you need help immediately, you can dial pound 250 on your cell phone and use the keyword "insurance" to get someone that can help you right away. Today, we have a special guest. We have assembly member Blanca Pacheco. And thank you so much for being here. Oh, thank you for having me. Absolutely. We actually have met before. I'll tell everyone the story because it's sort of funny. We met when I was in Sacramento, and we sat down to interview only to find that we were having some technical issues with the equipment. So we decided we would have a do-over, and so I'm here in southern Carl, and are you up in Sacramento right now? I am, and you should be glad you're not in Sacramento because we have over 110 degree weather. Oh, my gosh. It is just crazy. I think I saw for the first time today someone, there was a message that said, "Oze atmospheric and heat warning." And I'm thinking, when do we start getting atmospheric warnings? Is that a new thing? I've never heard of that. I've never heard of it either. Well, they have to keep us clicking, right? Well, let's jump in. Tell me a little bit about yourself. Tell everyone a little about yourself. What made you decide to get involved in politics? So, interesting enough, I always wanted to be an attorney. I went to UCLA and then went to Loyola Law School, became an attorney, passed a California State Bar Exam, and about 10 years into my practice, I decided to get involved with the community, got involved with the Kiwanis Club of Downey, and then I got involved with other service groups, and eventually that led to being asked to run for a city council in 2016. And then eventually, when there became a vacancy at the state assembly level, I was asked to run for state assembly. And here I am. I'm two years into my service as the assembly member. And what territory is it that you're representing? So, I represent the 64th assembly district, which covers the city where I live, city of Downey. I have various other cities like Bao, Kadehe, Bao Gardens, Norwalk, Santa Fe, Springs, La Marotta, La Habra, and South Whittier. So, it is quite a number of cities. For sure, I think they're suffering from heat right now, just like you are. So, you're suffering together, even though you're not together physically. That's true. So, now that you're up there, and you're doing the people's bidding, is it what you were expecting? You feel like this is what you signed up for, is what you wanted to do? - I really enjoy what I do, but I'm not gonna lie. I do miss being home. I miss being with my family, with my dog. But the work that I do up here, it means a lot and I enjoy what I do. - Well, that's the best thing. A wise man once said what? If you do what you do for a living, you never work a day in your life. Something along those lines. And it's probably true. But, so how do you balance that home life and work life? Because you're in Sacramento, and everyone else, your family is down here. So, how do you handle that? How does that work? - So, I call my mom every day. I call in, check in to see how everybody's doing. So, I'm always in contact with my family in LA. - And so, do you live in Sacramento, and you fly back and forth? What are the mechanics of that look like? - So, typically, I fly up here to Sacramento on Monday mornings, and then fly back home Thursday after news. Except for tonight, I will be flying home tonight, because tomorrow is 4th of July. - That's right, that's right. So, they're giving you recess air quotes, which I always think is a funny way of saying it, like you're in kindergarten. - Or work back home in the district. - Right, exactly. So, in addition to representing your particular territory, are there any other positions, committees, things like that, that you've gotten involved in since being up there? - So, I am on four committees. I am the chair of rules. I am also on judiciary, which makes sense as an attorney. I'm also on local gov and on governmental organization. - Now, tell me a little, I'm curious. Tell me a little bit about, I mean, I like the idea of chair of rules. That sounds like something from Harry Potter. What does that mean, exactly? - So, pretty much, I am in charge with the operations of the state assembly. I deal with bill referrals, and just the ongoings of the assembly. - And so, in addition to what you do for your constituents, you're working in these committees, and that's for the whole state, for the most part. - Correct. - Wow. It's a lot of responsibility for somebody two years in, and you still find time to have a life. - Yes, and work out. Work out every morning at six a.m. - Oh, don't start with those. You're one of those people. I subscribe to the philosophy where they say, "No pain, no gain, right?" I say, "No pain, stop." We're good. - No, we don't need to go any further than that, right? If anyone has questions they'd like to talk with the assembly person, please give us a call at 559-650-317. Any questions you'd like to ask, also you can send in by text to that same phone number, or send an email to questions@insuranceour.com, and we will get those right over to the assembly woman. If we're already off the air, I will still forward your question or your email to her, and she can respond to you directly. Now, I know what the genesis of us speaking, in addition to just having a good time, was there's a particular bill that is near and dear to your heart. So before we take our first break, can you just give me the gist of the genesis of where that bill came from and what it is? - So, I'm of the promo proponent that we need to protect our small businesses, and so I am carrying a bill this year called AB 2743. And what it does is it addresses a significant, unintended increase in financial responsibility for peer-to-peer car sharing programs that we have here in the state of California. - Peer-to-peer car sharing. I can't wait to talk, I cannot wait to talk about that because this is a new one to me. It's not Uber because that's ride sharing. This is car sharing. - Car sharing. - All right, let's take our first quick break. It will be come back. We're going to hear about car sharing. We're going to hear about this bill and what it's all about. Again, this is Insurance Hour. I am your host, Carl Sussman, with special guest today, Blanca Bacheco from Sacramento, where she's sweating it out right now. You can reach us at 559-650-317, or of course, send your email to questions@insurancehour.com. Any immediate concerns that you have insurance-wise, grab your cell phone, dial pound 250, use the keyword insurance, and with a little bit of luck, the technology will work and that will transfer you to someone that can help you right away. We will take our first break and be back in a flash. (upbeat music) Let's talk about earthquakes for a minute. Look, we know we live in earthquake country here in California. Powerful, devastating earthquakes have happened here before, and science says that they will happen again. They can't tell us exactly when, they can just tell us that it is going to happen. Count on it, prepare for it. Did you know that earthquakes are not covered by your homeowner's insurance policy? You need a separate policy to give you the peace of mind that you will be able to recover without getting financially wiped out the next time we get hit with a big one. There's a great company here in California that will provide you with earthquake coverage you need at a price you can afford. That company is GeoVera. I have a policy through GeoVera. I really like how easy it is to choose from all of their great coverage options backed by the financial strength that lets me know that they will be here for me when I need them the most. Go to getquake.com/insuranceour to learn more. That's getquake.com/insuranceour. Make sure you're ready for the day when the ground shakes again. (upbeat music) Hello, hello, this is insuranceour. I am your host, Carl Sussman. Thank you so much for being here today. Phone lines are open, 559-656-0317. Of course, you can send your questions as well to questions@insuranceour.com. Today we have special guest, Blanca Pacheco, and she is here from the 64th District in California, although she's in Sacramento today's sweating. Welcome again. - Thank you, and thank you again for having me. - Absolutely, so before we took our break, we started talking about this bill that you are sponsoring. So let's start from scratch. We've got lots of time right now. Tell us what the bill does, and let's just start with that. What does this bill that you've authored do? - Yes, so AB 2743, which I introduced this year, it addresses a significant unintended increase in financial responsibility limits for peer-to-peer car sharing. And you may ask, what is peer-to-peer car sharing? - I sure do ask. - So peer-to-peer car sharing is the ability to rent out your vehicle, rent out your personal vehicle, and allow someone else to utilize that vehicle when you are not using it. So the whole purpose of my bill is to maintain this program or business affordable so that more and more people can do it. More and more people can share their vehicles so that they can make a living when they're not using their vehicles. - So car sharing, basically, if I'm understanding, is it's the idea that I can take my personal vehicle and I can let somebody borrow it for a fee? - That is correct, so if you have a BMW, if you have a Tesla, you can rent it out. - But if I don't, I'm just-- - And you can rent one. - Yes, that's why I can go rent one. So I'm looking at it more like an Airbnb where you rent out a room or a house of yours for a finite period of time, but this is your vehicle. - That is correct. - Okay, and so are there companies that offer this particular service right now or is it a new business concept? - So there are companies. One of those companies is Turl, but there's also another one called Get Around. - Okay, and are these, they're app-driven or they're calling or sign up or how do they work? - So that's a great question because I've actually used it before and it's app-driven. - Walkers through it. - So it's app-driven, you open up your phone, you download the app, and then you can search for vehicles within your area. So for me, if I wanted to search for a vehicle in Downey, I could look for vehicles in Downey, I could look for specific vehicles, and then I pick the dates that I want to rent the vehicle, and then voila, there you go. You can rent a vehicle. - So you rent the vehicle, so the vehicles are all over. - Correct. - And you pick the vehicle you want and you just go get it, the keys are in it or you knock on the door to get the keys or how does that work? - So it all depends, you're given specific instructions from the owner, so for one of the situations, the owner said I'm leaving the key in this location, you go to that location, pick up the key, and then the car is right there, so it's really easy. - And how does it work as far as gas and mileage driven, things like that? Is that built into the cost or does each owner of the vehicle decide how that works? - It depends on each owner. Typically, you can use a car, you don't have to worry about gassing it up, it would be nice. It's just like renting a car, but you pretty much just utilize the vehicle and then drop it off within a couple of days. - Couple of days, could you take it for some hours if you wanted? - It depends, you can look to see if there's an owner that wants to rent out their vehicle for just a couple of hours, but typically I've seen for a day or two. - Very interesting, okay. So these, there's basically two companies that you're saying that play in this space right now, and is there one in particular that's, or are they both in California, or I know that you're all about California businesses, so is there one specific that is focused in California? - Both are in California. - Both? - Yes. - Okay, and so you mentioned that the bill that you're sponsoring is designed to fix a problem, an inadvertent issue that would put undue burden on, I suppose, these two companies. Can you explain what that is about? - So what it has to do with the financial responsibility limits, right now the limits are two times the usage compared to a personal car, and starting in January 1st, 2025, we're gonna see an even more increase when it comes to peer-to-peer car sharing. And so to prevent that unintended consequence, we have introduced this bill, so that we can stabilize the financial limits for peer-to-peer car sharing to make sure that this type of business remains here in the state of California, which is what's very important. - So when you're saying the financial responsibility, you're talking about the limit of insurance or bond they have to post, or is that what you're referring to? - Correct, the limit of the insurance, correct. - Okay, so the app requires the, is it the owner of the vehicle to have a particular level of insurance, or is there insurance that the actual app company is offering in addition to that? How is that working? - So it would be in addition to, it would be in addition to. - Okay, so the person has insurance on their car, and then they're going to put that car out to be borrowed? See, it's still just not working in my brain yet, it's too new. So they put their car out on the app to be borrowed, and so you're saying that in addition to the insurance that they have, then these companies would have an additional amount of insurance that they would provide for people that are, in essence, borrowing the cars. - That is correct. - I see, and so is there a particular limit that you're saying it's going up in 2025, and you think that limit is too high to be able to allow these companies to continue doing business? - It is, because currently, even the way it is, California's limits are even higher than 43 other states and DC. - I'm Victoria Cash, thanks for calling the Lucky Land Hotline. If you feel like you do the same thing every day, press one. If you're ready to have some serious fun, for the chance to redeem some serious prizes, press two. - We heard you loud and clear, so go to luckylandslots.com right now and play over a hundred social casino-style games for free. Get Lucky today at luckylandslots.com. - No purchase necessary. VGW Group, void rep prohibited by law, 18 plus, terms of condition supply. - Okay, so we're talking about the limits of liability that the company would have to have, that would be in addition to the limits of liability that the owner of the vehicle would have. - Correct. - And those limits are higher in California than other states. - Correct. - And you're saying those limits are going to be increasing in 2025. - That is correct. Anywhere from two times to even three times higher. And this is an unintended consequence under a dot bill that was previously passed. And the author has even said that this was an unintended consequence from his bill. So this senator, Senator Dodd, has supported my bill as it made it through the process. - You know what, let's talk a little bit more about that. Bill Dodd's a good guy as well. I've spoken to him in the past. We can take another quick break. When we come back, let's talk a little bit more about that unintended consequence. I think that's a really important point that we can, that we clarify. This is Insurance Hour. I'm your host, Carl Sussman. With special guest, Blanca Pacheco, we will be right back. (upbeat music) - Ladies and gentlemen, boys and girls, in just a few moments, the window to the magic podcast show will begin. - My name is Patrick. - My name is Calvin. - I'm Mouse Catier Gray. My name is Paul and I will be your guide through the wonderful world of Disney sound experiences. This show is a weekly trip into the world of the Disney theme parks and resorts. And this is the place where you get to use your ears to surround yourself with the magic. For your safety, please remain seated while listening to the window to the magic.com podcast. - Maybe there's a name for this, something like "Diznautic" of session. ♪ Surround me so we'll be happy ♪ Please visit windowtothemagic.com for more information or you can find us on Apple podcasts and in the iHeart Media app. (upbeat music) - Hello, hello, this is Insurance Hour. I am your host, Carl Sussman. Thank you so much for being here today. Remember, the phone lines are open, 559-656-0317. You can call or text your questions in or send an email to questions@insurancehour.com. If you need help right away, don't worry. You can also grab your cell phone, dial pound 250, use the keyword insurance and you will get transferred to someone that can help you right away. Today, we have our special guest, Blanca Pacheca. Thank you so much for being here once again and for being so patient with me. Before the break, we were talking a little bit about how these limits of liability and financial responsibility work for companies that are car sharing. I almost said ride sharing, car sharing. Can you clarify a little bit for me about how your bill works and how these layers of protection from, but these liability protection layers would work? - So this bill would, well, let me just start off, which is explaining the whole concept of the turtle. There may be some confusion, but traditionally we have insurance for your vehicle. So me, I have insurance for my vehicle. I want to rent it now. Now I'm using a nap for instance turtle where I utilize the app to rent my vehicle. Now I need to get an additional insurance through the app and that's what we're talking about today. The financial responsibilities under the app, which currently is three times that of a personal vehicle. And then keep in mind, you can also get additional insurance. If say, for instance, you're a little uneasy because someone else is driving your vehicle, you can also obtain additional insurance through the app. So what this bill does is it will leave the financial responsibility at three times that of a personal vehicle. Because what's gonna happen is in 2025, it's going to increase even further. And that make causes type of business to leave California. - I see. So there's basically three layers that we're talking about. There's insurance that the registered owner of the vehicle has. And in California, that's the primary insurance. Then we have insurance for the person that's driving the car. Hopefully they have insurance as well. And then you're saying that this company turtle would also allow people, first they would, they have to offer a certain level of insurance and people can buy up from there. - Correct, so it's mandatory to get the insurance through the app. So if you're utilizing turtle, it's, that insurance is three times the insurance under a personal vehicle. - I see. And people can buy up from there if they want as well. - That is correct. - Okay, do you have any idea offhand? And I don't put you on the spot because you're not turtle. Do you know what the maximum limits are if somebody wants to do a higher limit? - Well, now that I don't, that I don't know. I'd have to ask somebody from turtle. - What could I add? The insurance brain, right? All I'm thinking is what's the maximum exposure? How much insurance can you possibly get? - Yeah. - Okay. And I know that you keep mentioning how the limits are going to be changing in 2025. And you mentioned a bill that, a bill that Bill Dodd had put into effect. And tell me a little bit about your conversations with him and how this bill might or might not affect that particular bill. - So Senator Bill Dodd, amazing senator, I have to mention, he had a bill which was Senate Bill 1107 which doubled and tripled insurance minimums beginning in 2025. And it's aimed at protecting road users, people out there on the roads. But he unintentionally also made it also apply to this ride sharing program. So this was an unintended consequence. This was not something that he intended to happen. And so he's already voted for my bill when it went to his committee. And so it's already gone through the Senate and now it will be reaching appropriations. We call it appropriates, but it's appropriations on the Senate side. - Well, you're throwing jargon at me, I have to ask. So give us the schoolhouse rock version, if you're probably too young. Do you remember the reference? - If you do, give us the synopsis. How does that work? So you start out and you have this idea that you want to change the law. And how do you go, what's the process of that? What are the mechanics? - So I have an idea or I can reach out to my constituents and maybe they have a bill idea. And they say, you know, I want to solve this problem. Or another third option is sometimes you'll have a sponsor like Turro will come in and say, this is a problem we're seeing, can you help us? And you introduce a bill, you have Legislative Council review it, help you with the drafting of the language, and then you introduce it. And then it goes to like my committee on the assembly side where we refer the bill and it gets referred to specific committees. So like for this bill, it got referred to insurance on the assembly side. It makes it through, if the bill is keyed fiscal, then it goes through appropriations. And then once it makes it out of there, and if it makes it out of there, it goes to the assembly floor. So all 80 assembly members can then vote on the bill. Once that happens, it goes to the other house. So my bill then went over to Senate. And in the Senate, they referred it over to judiciary and to insurance, made it through both committees already. And then it goes to appropriations, but now on the Senate side. Once it makes it out of there, then it goes to the Senate floor and you have 40 senators who will then vote on the bill. And then eventually it makes it to the governor who can then sign it into law. - So after all, so after all that, it's possible that the governor doesn't sign it. - That is correct, my finger was crossed, fingers crossed. - That's right. - So you're saying at this point, it's in Senate appropriations, that's where the bill is sitting? - Yes, we made it out of Senate judiciary last week, last Tuesday. - So it sounds like you're almost there. All that's really left after this portion is to get to a floor vote, is that right? - That is correct. After it makes it through appropriations, then it goes to the Senate floor and then we have 40 senators who can then vote on my bill. And when we come back, I want to talk about what you've done behind the scenes because this is always fun for us, lay people that don't deal with this. And I want to talk about if you talk to other than Bill, other senators, if you have an idea of what the feeling has been from people that are going to be, hopefully, once it's out of committee, given the opportunity to vote on this. We'll talk about that as soon as we come back. This, again, is insurance hour. I am your host, Carl Sussman, with my very special guest, Blanca Pacheco, today. Again, I thank you so much for being here. The phone lines are open at 559-656-0317. You can call or text that number, questions for me or for the assembly woman. And, of course, questions can be sent to questions@insurancehour.com. And, of course, of course, you can always dial pound 250, use the keyword insurance if you need immediate help, and you'll get transferred to someone that can help you. I'm Carl Sussman, this is Insurance Hour. (upbeat music) Do you need homeowners insurance? Has your previous insurance company left the state, non-renewed your policy? Or maybe they just raise your premium to an amount that you simply can't afford? Whatever the situation, we can help. Just dial pound 250 on your cell phone, and say keyword insurance quote, and we will connect you with an agent who can assist you right away. Or, if you prefer, you can visit us online at insurancehour.com/quotes. Whether you're looking for homeowners insurance or auto insurance, we'll send the best options straight to you. So, what are you waiting for? Simply dial pound 250 and say keyword insurance quote, and we will connect you with a live agent to help provide competitive quotes for your homeowners insurance or auto insurance. Don't get caught unprepared. Ensure what matters. With an insurance company you can trust, and with a premium that you can afford. Don't put off until tomorrow what you should have done yesterday. Simply dial pound 250 on your cell phone and say keyword insurance quote. Do you need homeowners insurance? Has your policy been canceled? We can help. Dial pound 250 and say keyword insurance quote. Again, to get a homeowners insurance quote, dial pound 250 and use keyword insurance quote. (upbeat music) Hello, hello, this is Insurance Hour. I am your host Carl Sussman. Thank you so much for being here today. Phone lines are open 559-656-0317. You can also send your questions in to questions@insurancehour.com. Of course, if you need immediate help, you can also dial pound 250. Use the keyword insurance and be transferred to someone that can help you right away. Today, we are continuing with our special guest all the way up, sweltering in Sacramento. Sounds like it should be a movie title. (laughing) I'll log up with Jacko. Thank you so much for being here today. - Thank you. - We've been talking about a bill and a little bit of education on the legislative process as well. So if you've missed any part of this, definitely jump online, search for Insurance Hour. You'll find us on all the podcast apps as well as YouTube and iHeart Media. And listen to the beginning of this because a lot of really good information in here that I think you'll want to know. So we were talking about the next steps for your bill. And you were saying that currently, it's gone through the assembly, big thumbs up, right? So it's made it through that process. And now it's gone to the others, right, in the Senate, which have their own committees and their own groups. And that's in essence where it's sitting right now. And after that, it's going to go to a floor vote for the Senate. - That is correct. - Did I get it right? - Yeah, he got it. - All right, I got it right. - Well, you're proud. - I'm learning with you. So the question is, you've got these senators that are going to be voting on this, hopefully once it comes out of all of these committees. Have you spoken to any of them, some of them that you're comfortable talking about, what does the general feel about this bill? - So I've talked to several senators. I've already gone through two different committees on the Senate side. And this bill has received bipartisan support. So a lot of the senators, like the assembly members, want to keep this business here in California and see the importance of the bill. And so that's why it's received bipartisan support. So far it's going through each committee rather smoothly. - So as far as the numbers go, what is it, when this floor vote comes, how many people are voting and how many have to approve it for it to move on to the good old governor's desk where we don't know what's going to happen? - So you're asking me to do math, it's okay. You have 40 state senators and you need 21 to get it to pass. - Oh, okay, so it's a simple majority. - It is, yeah. - Okay, and so we know that Senator Dodd is, you have said has already given you his support for it. - Correct. - And what would you estimate, you need another 20? Do you have a feeling, I mean, I assume you've spoken to a bunch of people throughout the committee process. What do you feel are the odds that it's going to get the support that it needs, that 21 votes? - I'm very optimistic, I'm optimistic, especially since they went through two separate committees with different safe senators. So I'm very optimistic. - It's very interesting. What is the normal timeline, if you can, walk backwards, when did you first put pen to paper or finger to keyboard to actually start writing this up? Since you're an attorney, you probably did a lot of the actual drafting yourself. When did this start to get us to where we are right now? - So we started this process back in January, started off with conversations, and then that led to the drafting of the bill, and of course, we received help also from legislative council. - That's fast. - Yeah, it's pretty fast. And yeah, it was like such a long time ago. - Well, that's just the way time is these days, right? It feels like yesterday was a month ago, but I have to tell you from a general consumer and citizen standpoint, to hear that something could potentially go from nothing to I say the second to last step, right? The Senate vote and then the governor's signature in a matter of seven months, six months? I think that's pretty darn fast. Is that typical in your experience there? - It is typical, but sometimes you have tough bills that may take over two years to get through the process because you're working with opposition, you're perfecting your bill. But fortunately, this bill, we introduced it this year, even though conversations were being held from last year, but sometimes you start conversations early just to get people on board with your bill to get opposition off of your bill. But I have an open door policy. I work with opposition. I try to get them to a good place where maybe they're neutral on the bill. That's the important of being at the Senate. - Is that meaningful? - Meaning that initially sometimes opposition, somebody will say, "I oppose this bill," and you work with them, you fix some language that is important to them and to the other side, and then we get to a good place. - And if somebody, I say this out again, pure ignorance, do they all have to vote or is there a certain number that have to be there to be able to have? Is there a quorum call for voting to be done? - So that's just with opposition. When I say opposition, I don't mean like assembly members or senators, just with certain groups who may oppose the bill, you work with them. And legislators see that. They see how hard you work on a bill. And if it's at a place where they feel comfortable and voting for it, then they'll vote for it. And that's where we're at with this bill. So I'm very comfortable. We'll make it through the Senate side and make it through to the Governor's desk. And hopefully he will sign. - Well, you know, you keep saying opposition, so I have to ask, what is the, you know, you have an open door policy. And obviously there's always someone that has another opinion, right? There's always another one. - Yes. - So what has been the, if you want to sort of encapsulate it, what would the average person that would, or organization or consumer group, whatever it might be, that opposed this? What was their general feeling? What was their rationale for not being comfortable with it? - So it could be like consumer attorneys. Fortunately, we had the Department of Insurance on board. But it could have, it could, there's so many different, just on your typical bill, there's so many different lobbyists and interest groups who may either support or oppose a bill. So it's just having that open door policy to help your bill and help people not oppose your bill. And that's the important thing. That's how you get bills through. - So they don't have to love it. They just can't hate it. - They just can't hate it, correct. - That feels like a low bar, but I guess that's how it works. - It takes a lot of work. - There's no question that this, this seems like a ton of work to have to go with you. - Yeah. - What I'd like to do, we're gonna take another quick break. When we come back, I'd love to hear what some of the people that have not supported it, initially at least, what their concerns were. It's also good to hear that the Department of Insurance is behind it, since if the Department of Insurance is behind it, and we elect the insurance commissioner, we have to think that that's a good sign for sure. Let's take another quick break and we'll be coming back, I'll put you on the hot seat. - Okay. - And try and get an idea, because I'm always interested to know what the different opinions are. And I'd love to find out a little bit more about what organizations, people, senators, whatever it might be, that didn't like it, what their thoughts were. So let's take a quick break. When we come back, we will continue our conversation with Assemblywoman Blanca Pacheco, which again, thank you so much for being here. This is Insurance Hour, and I am your host, Carl Sussman. We will be back in a flash. (upbeat music) - Ladies and gentlemen, boys and girls, in just a few moments, the window to the magic podcast show will begin. - My name is Patrick. - My name is Calvin. - My mouse could hear Greg. My name is Paul, and I will be your guide through the wonderful world of Disney sound experiences. This show is a weekly trip into the world of the Disney theme parks and resorts. And this is the place where you get to use your ears to surround yourself with the magic. For your safety, please remain seated while listening to the window to the magic.com podcast. - Maybe there's a name for this, something like "Diznautica" session. ♪ Surround me so we look happy ♪ - Please visit windowtothemagic.com for more information, or you can find us on Apple podcasts and in the iHeart Media app. (upbeat music) - Hello, hello. This is Insurance Hour. I am your host, Carl Sussman. Thank you so much for being here. Phone lines are still open at 559-656-0317. You can also send your questions to questions@insurancehour.com. For immediate help, you can now pound 250. Use the keyword insurance to get help immediately. We are here continuing our conversation with our special guests, the Assembly Member Wonka Fajeko. Thank you so much for being here again. - Thank you. - Before the break, and again, before I even continue, if you've missed any part of our conversation, you want to definitely go back and find it because there's a lot of really interesting stuff in here. You can just search for Insurance Hour online, go to insurancehour.com, go to whatever podcast app you use, go to YouTube. Just search Insurance Hour and you'll find it there and listen to the whole thing because there's a lot of stuff in here. We don't just talk about this bill. We don't just talk about the assembly woman. We talk about how to legislate in general. So there's a lot of really good info here. So before the break, we were talking in general about what type of obstacles there might have been to get the bill to this place because it's just close to the finish line. So would you say that there's been a lot of opposition to it or for the most part has everyone really been on board with it? - For the most part, everyone's been on board. It's received bipartisan support, so we've been fortunate but doesn't mean we haven't worked hard. We've worked hard from the very beginning. - Ah, there's no question. All of this had to be a lot of work. - Oh, yes. - For a bill like this, and I know I'm getting into the weeds a little bit. So forgive the silly question. How long is it? Is this 10 pages? Is it 30 pages? How long would it take the average assembly person or then senator to actually go through and read it? And I guess I'm poking them all wondering, do they actually all go through and read it all? - Well, hopefully they read it but we all receive the bill language and then we also receive an analysis of the bill. So in each committee, we see an analysis of what the bill does and so that way we can get a better understanding because not everybody is an attorney as well. - There's so much I could say to that. I'll just say, you're right, right? They're not everybody is an attorney. We can both laugh and leave it at that. - And not everybody is an insurance expert like yourself. - Oh, you're too kind. - Yeah, well, like we joked about, it's car salesman, politicians, attorneys, insurance people. How many other of the most loved professions are there? There's a handful of them, right? - That's true. - Well, what happens once the bill passes the Senate floor, which we're going to hope that it and assume that it does, and it goes to the governor's desk. You hear that on the news all the time. It's sitting on the governor's desk, waiting for his signature. As if he's pacing the room, doing nothing else, but looking at a stack of things to either sign or not sign. How long does it, can it actually sit in that position and just be there? - So I would have to look at the calendar, but I believe it's September, yes, 30 days? Yes, 30 days to sign it. - Oh, wow, okay. So there's not any calendar date. It's basically once it gets dropped on his desk and both houses have said, we like this. - I think it's actually a date. - Oh, is it? - Yeah, okay. - And I can't remember what it is this year off the top of my desk. - I didn't mean to put you on the spot with it. I was just trying to get a general idea. Does he have a date? Does he have six months? How long do we have to wait? With baited breath to see if he signs it or not. - I may have it on my calendar. - Anyone that wants to get their opinion and certainly reach out to you. Do you want to provide some contact information for people if they want to reach out to you? And you can certainly help give them the right path to get to the governor's office with their opinion if they want to go that route. - September 14th? - September 14th, September 14th. - September 14th? - September 14th? - September, sorry. I was getting the date for you. September 30th is the last date for the governor to sign all bills or veto all bills. - Oh, wow, okay. So is, and by hearing that there's a drop dead date, I'm going to just go on the record and assume that that means he does nothing until September 30th. I'm going to guess that those things just sit there. - Some bills actually get signed beforehand. So it's a very complicating process. Some bills get signed beforehand, but he has up till September 30th. - I'd be a little cynical, I guess, right? I just assume that he just sits there and waits on it. What is the best way for people to get through to you? If they want to talk about this bill, if they want to be sure that their voice is heard, maybe they want to put a call in or shoot an email over to the governor's office to tell them what they think. What's the best way? You're the expert on this, obviously, you penned it. How should they reach out to get you? - So if they want to reach out to me, my phone number is 916-319-2064. That is my phone number, here at the Capitol. - And if they want to send you an email, what's the best way to get ahold of you there? - It's assemblymember.pecheco@assembly.ca.gov. - I think that it's important that everyone knows that they have a voice. - Yes. - And what's interesting about the way legislation works is, although you represent a particular area, the legislation that you write or that you support or don't support in general affects the entire state. So anybody that's paying attention that wants to, like I said, have a voice or be involved or has a question, then they should feel comfortable to reach out to you. And again, you have that open door policy. Not literally, I can tell you, I had to actually open the door, but I get it. Okay, so what I'd like to do is, we've just got a minute or two left. Is there anything, what is your, if you can, give us your elevator pitch for this bill. For the first time, we're hearing about it for people that are just joining us now. Tell us the bill number, tell us what it is, tell us why it's important to California's economy that this bill goes through. - This bill is important. It's an important bill. It's Assembly Bill 2743. It would ensure car sharing businesses stay viable here in the state of California. The consumer should be allowed to rent out their vehicle. It's a good source of income. And it will help many family and many constituents here in the state of California. But most importantly, it will keep businesses like Turro here in California. And that's what's important. - Terrific. Well, there's nothing more important than trying to make California more attractive to business. I know that we don't exactly have the reputation for being super business friendly, right? And I can say that I'm born and raised in California. I think it's the best state ever. And we have our challenges. We get that as well. - Yes. - So I will invite everyone to please reach out to the Assemblywoman if they have any questions or they want to make their opinion known or anything having to do with this bill. You have her contact information now as well. We'll also put links to that for you to be able to see in the show notes for today. And I thank you so much for spending time with us here today. Assemblywoman. - Oh, thank you. It's been such a pleasure. - I would love to plan to have you back too so we can hear when this is done and how it works from there going forward. - Sounds great. Terrific. Well, I will look forward to seeing you again. And for now we will take another quick break. I am Carl Sussman and you are learning from Insurance Hour. (upbeat music) - Are you feeling lost in the search for the right insurance? Making call after call only to find no one willing to go that extra mile for you? At Sussman Insurance Agency, we understand that frustration and we're here to change your experience where other sea obstacles we see opportunities while many might shy away from jumping through hoops. At Sussman Insurance Agency, we are prepared to leave, looking under every rock, exploring every avenue. That's not just what we do. It's who we are. Our dedicated team doesn't just offer policies. We provide solutions, solutions born for persistence, expertise and a genuine commitment to finding you the best coverage possible. We don't just meet expectations. We surpass them. If you're tired of hearing no or it's not possible, it's time to turn to a team that believes in yes and let's make it happen. Don't settle for less. Reach out to Sussman Insurance Agency at 877-411-5200. Visit us online at sussmaninsurance.com or email sales@sussmaninsurance.com. Let's uncover the insurance solutions you deserve. Sussman Insurance Agency, going the extra mile every time. - Hello, hello. This is Insurance Hour. I am your host, Carl Sussman. Thank you so much for being here today. Phones are still open at 559-656-0317. You can call or text that number. Or if you have questions, you can also send them by email at questions@insurancehour.com. You can also, if you need help right away, pick up your cell phone dial pound 250. Use the keyword insurance and that will transfer you to an agent that can help you hopefully right away. We had the pleasure today of speaking with Assemblywoman Blanca Pacheco and we had a great conversation about a bill that she has penned. She has created from the ether that is going to potentially impact insurance limits on car sharing. I can't stop wanting to say ride sharing because I've heard ride sharing so much. I go to the airport and I see the signs pointing for ride share go here, for ride share go there. This is car sharing. So if you have any particular questions about it, I think the best thing to do, you can reach out to me and I can forward your information directly to the Assemblywoman or you can reach out to her directly. As I said previously, we're going to put links so you can reach her. All of her contact information will be available for you to see and you can reach out to her or to us. I think as an insurance person, I wanna give you my two cents on this. What's interesting about this is anytime you hear legislation that has to do with limits of liability insurance, it gives me pause. And what that means is when you have an insurance policy, when a consumer decides to buy an insurance policy, they're making a choice. First, they're making the choice to purchase the policy. Then as far as liability limits go, they have to make a decision regarding how much liability insurance they wanna have. As a quick put-a-pin in this, what is liability insurance? Liability insurance is what's going to protect you from somebody else suing you because of your negligence. That's a very oversimplified concept of what liability insurance is. And again, I'm not an attorney, so disclaimer. So when you purchase an insurance policy, you're deciding how much protection do you personally wanna have between yourself, your assets, and this other party, this other person, this other entity, this whatever it might be, that would potentially come after you in the event of some type of negligence. I like to look at it more like a buffer, right? How much of a buffer do you wanna have? How much distance do you wanna put between your bank account, between you, and this other whatever it might be that's in essence coming after you? Forgetting the fact of who's at fault, who's not at fault, we're just going to use the simple psychology that someone is after your stuff. Fault obviously does play a part if you're not at fault. Then for the most part, we would not assume that there would be a lot of liability required, although even when there are incidents that are deemed to not be an individual's fault, there are still significant costs that can be involved to litigate, to have papers filed, to just go through the process in general as an insurance broker, we see this all the time. For small fender bender accidents, for example, even when nobody's hurt, even when there's just a little bit of damage on this car, a little bit of damage on that car, both people are sort of throwing their hands at you and saying, it was their fault, no, it was their fault. Be that as it may, this takes time and it costs money. If attorneys become involved because we can't decide on who is at fault or who should be paying these bills, then it gets more expensive and more time passes. So, regardless of who's at fault for the sake of this brief conversation, we're looking at a situation where you have to decide as the consumer how much buffer, how much space do you want there to be between this other thing, person, entity, and yourself. Some people will say they just wanna have whatever the law requires, the minimum limit. It could be $15,000, $30,000, whatever it might be. And it does vary by state and in California, the minimum limit that is required is changing. The limit that's required today is smaller than the limit that will be required January 1st of 2025 and again, 2026. I believe it goes for about three years, slightly increasing what that minimum limit is that you need to carry in order to satisfy your financial obligations when driving a vehicle. Side note of a side note, you don't actually have to have an insurance policy. You can actually post a bond and still satisfy that requirement. That's a whole other topic, a whole other conversation. But every time I say you have to purchase insurance, I get this little voice in my head. And yes, I have to talk to somebody about that. I get this little voice in my head that says you don't have to buy insurance to satisfy financial responsibility laws. And that is absolutely true. The way to get around that or the alternate route to satisfy financial responsibility laws are to post a bond. Okay, I'll stop talking about it, I promise. At least for now. So people have to decide how much they wanna have of that protection. The law has a particular amount that they say you must have. And then people have to decide do they wanna have that? Do they wanna have more? Insurance companies are in the business of providing what consumers are looking to purchase. You can purchase liability insurance for the most part in the thousands, the 10,000s, the hundreds of thousands, the millions and the tens of millions. And if you're a business, perhaps even the hundreds of millions of dollars in protection. Now, does the average person need a hundred million dollars in liability coverage? Of course not. I think it's safe to say that is not realistic. Do they need 15,000? Do they need a hundred thousand? Do they need 500,000? Do they need a million? This is the area where it gets to be more individualized and where choice is suddenly important, that consumers have the choice, have the ability to sit and decide based on the assets that they want to protect and how much peace of mind they want to have. Some people will say they only need to have as much coverage as assets that they have. The problem is that's sort of missing the point because you may have less assets, but the alternative means that you file bankruptcy or that you give all of the assets that you have. And again, depending on what you're found potentially liable for, you may run out of assets, you may have a judgment for more than you have, that you would then have to find a way to satisfy at some point. So, the choice about liability insurance is individual. And this particular bill has to do with the limit that is being required for a business that is doing business in California. So, hopefully this makes a little bit of sense or a lot of sense if I've done anything right and you understand the point I'm trying to make. Choice is everything. Consumers need to be able to make the choices for themselves and businesses can make the choices for themselves as well. And I think what this legislation does is it provides businesses with a lower threshold, a lower pay to play form of entry. And with that, I will end for now. Thank you so much for being here and learning with us today. This has been and is Insurance Hour. I am your host, Carl Sussman. You can call anytime, 559-656-0317. Everyone stay safe, stay cool, and I will talk with you again soon. - I do wanna thank all of you for taking the time to listen today. I know insurance is not necessarily the most sexy concept. It's not the most exciting thing in the world. It is important that you understand what it is you're getting, what you should be looking for, red flags, you name it. You just need to know more than you're used to. Things are more complicated than they used to be. If you have any questions, please reach out to me directly. You can email your questions to questions@insurancehour.com or call and leave a voicemail at 559-656-0317. Educating and entertaining Californians won insurance policy at a time. This is Insurance Hour. This show is dedicated to Shamrock Papa. (upbeat music) E-digits, lock 'em in for more information, recreation, and guaranteed fun. K-C-A-A-1050-A-M. - Okay, round two. Name something that's not boring. - Laundry, a book club, computer solitaire, huh? 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(buzzer) - NBC News Radio, I'm Michael Kastner, Vice President Kamala Harris, says Americans deserve better after Donald Trump raised doubts about her racial identity, more from Lisa Taylor. - In an appearance at the National Association of Black Journalists Convention in Chicago, Trump claimed he didn't know Harris was black until a number of years ago when she happened to turn black. The former president said he didn't know because she was always of Indian heritage and she was promoting Indian heritage. He went on to say she now wants to be known as black. Trump sat for a Q&A with black journalists where he touched on several issues and clashed with ABC News congressional correspondent Rachel Scott who asked Trump why black voters would support the former president for a second term. - A new report says Iran's Ayatollah is ordering an attack on Israel in retaliation for the killing of a Hamas leader. Iranian sources tell The New York Times that Ayatollah Ali Khomeini has issued in order for Iran to strike Israel in retaliation for Wednesday's killing of a senior Hamas commander. The Federal Reserve is leaving interest rates on change, Fed Chair Jerome Powell said the central bank is aware of the difficulties Americans are facing because of inflation. - My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power, especially for those least able to meet the higher costs of essentials like food, housing and transportation. - Rates have been in the same range for the past year as the Fed tries to lower inflation to its goal of 2%. However, many investors believe rate cuts are likely to begin in September. The central bank snacks meeting is set for the 17th and 18th that month. - The North Korea is open to resuming nuclear talks so the U.S. of Donald Trump retakes the White House that's according to Reuters citing North Korean diplomat who defected to South Korea last month. The diplomat said North Korea's goal is to get sanctions lifted and no longer be listed as a state sponsor of terrorism. Michael Kastner and BC News Radio. - Located in the heart of San Bernardino, California, the Teamsters Local 1932 Training Center is designed to train workers for high demand, good paying jobs and various industries throughout the Inland Empire. If you want a pathway to a high paying job and the respect that comes with a union contract, visit 1932trainingcenter.org to enroll today. That's 1932trainingcenter.org. Police are looking for suspects in two separate subway slashings overnight in New York City more from Scott Pringle. - Police say a man was slashed on a Southbound number four train that was approaching the 167th Street Station in the Bronx late Wednesday night. This was as two suspects were attempting to go through his bag in Queens just before midnight. A man was slashed in the arm and forehead on an A subway train platform. This was at the 111th Street Station in Ozone Park. The slashings come despite a decrease in subway crime over recent months. Atlanta-based Delta Airlines is claiming hundreds of millions of dollars in losses due to that huge data outage in July. More from Scott Kimbler. - Delta Airlines CEO Ed Baston says the airline is facing $500 million in cost due to a global tech outage. The outage caused by a bug and a cybersecurity update from CrowdStrike led to flight cancellations and significant financial losses for Delta. US DOT is investigating Delta's response to the outage including customer service issues. Delta plans to seek damages for the disruptions. - Kimberly and Gianna Gotti are pleading not guilty in a Long Island basketball brawl. Sarah Lee Kessler with more. - The Gotti gal's mother and daughter allegedly pummeled a woman and ripped her wig off after she yelled insults at Joe Gotti, Kimberly's son who was playing for the opposing Oyster Bay High School team outside the Nassau County Courthouse Tuesday. John Jr. Gotti, son of the Dapper Don Mabos, John Gotti, got into it with the Newsday Reporter. - You always a problem. - Gotti seen on video pointing menacingly at the journalist and accusing him of false reporting. - And thousands of people are left without power after line of severe storms moved through Eastern Nebraska last night's storms had strong winds, heavy rain and left more than 210,000 Omaha Public Power District customers without power. 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