Thursday, August 25, 2005 14:24:09
By: Ben Johnson

"Emerging Communities Initiative" legislation broadens the distribution of insurers investments in urban environments

OAKLAND--The Oakland Black Board of Trade and Commerce in association with the Black Wall Street Merchants Association hosts a luncheon with the California State Insurance Commissioner, John Garamendi on Thursday, August 25th 2005 at the Water Front Hotel in Jack London Square in Oakland. The Commissioner will highlight his "Emerging Communities Initiative" which features legislation to broaden the distribution of insurers investments in urban environments.

Seating at the luncheon will be on a first come, first serve basis. Individual table sponsorship is $1,000 and individual tickets are $100.00. There will be no tickets sold at the door. All seats must have been purchased in advance. The luncheon will be held from 11:30 am until 1:30 pm and includes a 45 minute Q&A session.

"Sponsorship will support the Oakland Black Board of Trade and Commerce Scholarship fund for disadvantage youth." said Ed Dillard, president of both OBBT&C and the Black Wall Street Merchants Association. Dillard said, "We will provide two scholarships to African American students to attend Cal-State East Bay and Sacramento State University. Sponsorships will also support Cable TV program, "Bay Area Business Today" which highlights the contributions Bay Area Small Business make to the Bay Area economy."

"Our goal is to be at the table when insurers investments are dispersed in the Oakland urban community." said Rev. Michael Carter, Sr. founder and board chairman for the Black Wall Street Merchants Association.

"Garamendi is now implementing aggressive programs to inform and protect seniors from insurance scams, and has redirected his investigative units to focus on fraud, including workers" compensation fraud. His Emerging Communities Initiative, designed to help undeserved communities through innovative efforts, such as the California Low Cost Auto Insurance program." Carter, Sr. said.

Carter, Sr. said. "He fights to relieve homeowners of expensive and onerous insurance company practices with his "Homeowners" Bill of Rights," a comprehensive package of legislation and regulatory actions. The Commissioner has launched major lawsuits, investigations, and instituted new regulations attacking corrupt sales practices in the insurance industry."

"Most recently he has subpoenaed executives of major title insurance firms as part of a far-reaching investigation into harmful, illegal kickback schemes that are plaguing that industry. " According to a spokesman from Garamendi's office.

Companies and agencies that already have tables include: Alameda County, Bank of America, Black Wall Street Merchants Association, City of Oakland, Community Bank Of The Bay, Golden State Mutual Life Insurance, Home Builders Association of Northern California, Huntington Restaurants, M. A. Lindquist Company, Mason Tillman Associates, McDaniel & Associates - Venture CAL, Oakland Black Board of Trade & Commerce, Oakland Insurance Agents Association, Stategic Urban Development Alliance, LLC , and Wells Fargo Bank.

For additional information concerning sponsorship and tickets contact Barbara Taylor at (510) 436-5253 or edillard@blackwallstreet.org.

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