Republican candidate for California Insurance coverage Commissioner Stacy Korsgaden has warned she would crack down on insurance coverage fraud and conduct a full audit of the California Division of Insurance coverage if elected.
“The rationale that I’m operating is that we have now a scenario that I can not sit again anymore and watch, the inexperience within the insurance policies which can be being applied all through the state. That’s why I’m getting concerned,” she mentioned throughout a city corridor final week in Tuolumne County.
Korsgaden, one among 11 candidates in search of to interchange termed-out California Insurance coverage Commissioner Ricardo Lara, spoke on the Tuolumne Resilience Middle throughout an occasion hosted by Tuolumne County Supervisor Steve Griefer.
The Republican candidate highlighted her a long time of expertise within the insurance coverage trade, saying she attended California Polytechnic State College, San Luis Obispo, earlier than launching an insurance coverage company that she later offered in 2023 after it grew right into a nationally acknowledged enterprise.
Korsgaden argued California’s insurance coverage disaster has been constructing for many years, pointing to laws created underneath Proposition 103, the voter-approved 1988 legislation that expanded oversight of the insurance coverage trade.
Whereas she mentioned the measure was meant to guard shoppers, Korsgaden argued the state’s regulatory atmosphere finally turned too restrictive and contributed to rising premiums and fewer insurers working in California.
She claimed the scenario reached a breaking level in 2023 when main insurers, together with State Farm, stopped writing new home-owner insurance policies in California, creating what she described as a ripple impact throughout the market and pushing extra residents onto the state’s FAIR Plan insurance coverage program.
Korsgaden mentioned one among her high priorities could be attracting extra insurance coverage carriers again into California to extend competitors and stabilize charges.
As a part of that effort, she proposed creating a brand new division inside the Division of Insurance coverage targeted on encouraging new funding and serving to further insurance coverage firms enter the California market.
She additionally pledged to aggressively pursue insurance coverage fraud investigations and evaluate departmental spending and operations to enhance effectivity.
Her feedback comes as regulators within the Golden State transfer to tremendous and doubtlessly revoke the license of State Farm over alleged mishandling of claims tied to the 2025 wildfires, which killed at the very least 31 folks.
Korsgaden mentioned wildfire prevention work underway within the county and argued communities investing in gas discount and fireplace mitigation efforts ought to obtain insurance coverage incentives.
Korsgaden praised these native efforts and instructed attendees that Tuolumne County could be amongst her first stops if she is elected.
“You’ll be the primary county that I come see, and I’ll convey insurance coverage firms right here,” she mentioned.
In the course of the discussion board, Korsgaden additionally expressed help for monetary help applications aimed toward serving to owners pay for fire-hardening enhancements, together with attainable tax rebates and extra state funding for wildfire mitigation tasks.
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