Sacramento, CA – Insurance Commissioner Ricardo Lara recently announced several new appointments to help drive forward the California Department of Insurance’s mission to protect consumers, including the appointment of Tony Borrego to the California Insurance Guarantee Association (CIGA) Board of Governors.
Tony Borrego is Founder of Spring Street Business Law, PC, a transactional law-focused law firm serving entrepreneurs, business owners, and investors at all stages of the business life cycle.
In addition to 20 years of experience in corporate law, Borrego also has significant finance experience as a partner in a Los Angeles-based boutique investment banking firm and as a private equity professional at American Capital, Ltd., a publicly traded private equity firm and global asset manager that had over $57 billion in assets under management. He has served as a board member, volunteer, advisor, and pro bono counsel to many community organizations, including the National Immigration Law Center, Children’s Hospital Los Angeles, California Hispanic Corporate Council, and Disability Rights Legal Center.
Borrego joins the CIGA Board of Governors in the public member seat representing business, effective November 5, 2021, and will serve at pleasure of the Commissioner.
“I am very pleased to announce my latest board appointments who are committed to our goal of protecting California consumers and businesses,” said Commissioner Lara. “I am confident that our appointees are ready to get to work and provide their advice and diverse perspectives on how we can continue to ensure a healthy insurance industry in California.”
The CIGA Board of Governors oversees the guarantee association’s general operations and management in order to protect policyholders in the event of an insurance company insolvency. Established in 1969 by the Governor and California State Legislature, CIGA comprises all insurance companies admitted to sell homeowners, workers’ compensation, automobile, and other specified property and casualty lines of insurance in California.