California elige a su próximo comisionado de seguros en medio de la crisis de incendios forestales

Californians went to the polls Tuesday to select their next insurance commissioner, a pivotal role responsible for regulating the nation's largest property insurance market. The commissioner oversees home, auto, health, pet, ride-hailing, life insurance, and workers' compensation, but the escalating wildfire risk has made home and fire insurance the central issue.

The incoming commissioner will face the challenge of balancing property insurance availability with affordability. Some insurers that had stopped renewing policies or writing new ones are now using new regulatory tools to set rates, which is expected to lead to premium increases as the Insurance Department approves higher homeowners' insurance rates.

The new commissioner must also address the aftermath of last year's Los Angeles County fires. State Farm, California's largest individual insurer, and the FAIR Plan, the state's insurer of last resort, face lawsuits from homeowners and legal action from the insurance department over their claims handling.

Leading Democratic candidates include state Sen. Ben Allen, Jane Kim (head of the California Working Families Party), financial analyst Patrick Wolff, and former state Sen.

Steven Bradford. Republican candidates are insurance agent Stacy Korsgaden and attorney Merritt Farren, who lost his home in the Palisades fire.

Some candidates propose increased state financial involvement: Kim wants a state authority for wildfires and floods funded by policyholder premiums; Farren proposes a state reinsurance authority funded by insurer fees; Bradford would study a public-private partnership. Former Insurance Commissioner John Garamendi described the job as "complex, hard, detailed work."