California’s new insurance czar reveals massive overhaul to entire industry in the state: ‘No more’

Source: New York Post

California’s next insurance commissioner is promising a sweeping overhaul of the state’s embattled insurance industry, including a first-of-its-kind public disaster insurance program that would guarantee wildfire coverage for homeowners. Jane Kim, a former San Francisco supervisor who defeated fellow Democrat Ben Allen in the race for insurance commissioner, declared victory Friday after campaigning on a plan to wrestle control of wildfire coverage away from private insurers and create a state-run, nonprofit alternative. “We are here to say no more.