Rising rates, AI, climate and market crisis: California insurance race wrap-up

California's next insurance commissioner will inherit a market that was already in crisis before the catastrophic January 2025 wildfires. 

Property-and-casualty insurance carriers have been raising home insurance rates and not renewing or dropping policyholders, pushing many on to the state's FAIR Plan insurance of last resort. While reining in this problem, the state will also contend with climate change and the increased use of AI by insurers to determine coverage and handle claims.

On Tuesday, June 2, voters will choose among 11 candidates for the job, with the top two facing off in the November general election. Seven of the candidates, from multiple political parties, discussed how they would address the variety of issues.

What's next for California? Candidates discuss the state's insurance crisis

Candidates give their takes on the outgoing term-limited commissioner and what they would do differently, addressing the crisis, managing regulatory resources and fixing the FAIR Plan.

AI's value and risk to California's future

AI creates both risk and opportunity for insurers, and California's next insurance commissioner will have discretion to set policies governing how insurers use the technology.

Rate increase restrictions vs. profitability

California's next commissioner faces hard choices on how to limit P&C insurance rate increases, while still retaining carriers in the state and supporting a healthy insurance market.

How climate change responses could change California insurance

Candidates described how they would use property insurance data, risk mitigation rewards and legislative rulemaking as ways to guide insurers' responses to climate change risks.