Today's Video Headlines: 05/05/26
Korsgaden attributes much of the crisis to long-standing regulatory and policy decisions that she argues have made California a difficult place for insurers to operate.
Speaking on the AgNet News Hour, Korsgaden painted a troubling picture of an insurance market under strain, where premiums are rising rapidly and, in some cases, policies are disappearing altogether.
“Insurance has gone up… or you can’t even get a policy,” she said, echoing concerns she hears from business owners and residents across California. Farmers already grappling with rising costs for labor, water and supplies are now facing steep increases in insurance expenses covering crops, equipment, vehicles and workers. For some, coverage is no longer a viable option, leaving operations exposed to significant financial risk.
As requirements have tightened, she said, companies have scaled back their presence or exited the market entirely. Her comments comes as regulators in the Golden State move to fine and potentially revoke the license of State Farm over alleged mishandling of claims tied to the 2025 wildfires.
That retreat has pushed more property owners toward the state’s FAIR Plan, originally intended as a safety net for those unable to find private coverage. Now, however, it is becoming a primary option for a growing number of Californians who have nowhere else to turn. Wildfires, crime and challenges tied to land and forest management have made it harder for insurers to accurately assess and price risk. When uncertainty rises, companies often respond by limiting exposure or withdrawing coverage altogether.
Korsgaden also pointed to what she sees as a leadership gap, noting that California has not had an insurance commissioner with industry experience in decades. She argues that a deeper understanding of how insurers operate is critical to stabilizing the market. Chick-fil-A employee accused of stealing $80,000 with mac & cheese scheme Among the solutions she outlined are efforts to bring insurers back into California, reduce regulatory bottlenecks and rebuild collaboration between state officials and private companies to restore competition.
Korsgaden is a licensed insurance professional and small business owner, running a Republican for insurance commissioner, campaigning on expanding competition and building a marketplace she says works for consumers rather than bureaucracy. The two possible causes for the cruise ship hantavirus outbreak — one is disgusting, the other terrifyingUS sinks 6 small Iranian boats as Trump warns regime could be 'blown off the face of the Earth'Iran war 'likely' to restart, senior Tehran official warns after Trump says US might be 'better off' without dealStacy for Insurance Commissioner
Her comments comes as regulators in the Golden State move to fine and potentially revoke the license of State Farm over alleged mishandling of claims tied to the 2025 wildfires. Stream It Or Skip It: 'Lord Of The Flies' On Netflix, A New Adaptation Of The Novel About How Anarchy Develops After Schoolkids Are Stranded On A Tropical Island
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