A PLAN FOR CALIFORNIA
California families are paying more and getting less. Stacy Korsgaden is an experienced insurance professional who has a clear, practical plan to restore stability, fairness, and affordability to the insurance marketplace.
Restore Competition and Bring Insurers Back to California
When companies compete with each other for your business, prices go down. Stacy will rebuild confidence in California’s insurance environment by encouraging innovation and encouraging capital investments so insurers can offer a variety of products. The goal is to restore a strong, diverse insurance market.
Expand Product Availability to Give Consumers More Options
Californians deserve access to the same innovative, affordable insurance products available in other states. Stacy will open the door for new products and modernized policy options so families can get coverage that fits their needs and their budget so families don’t get forced into overpriced or bare-minimum coverage.
Provide Tax Relief to Lower Costs for Working Families
Stacy will champion homeowners and auto insurance tax credits to reduce costs for working families. Californians are paying some of the highest insurance premiums in the nation and it’s time they get meaningful financial relief.
Change the Culture of the Department of Insurance to be Service Focused
Establish a robust online "Consumer Advocacy Hub" that includes an Insurance Company Scorecard for accountability, tracks key indicators of market vitality, provides immediate claim assistance in catastrophe areas, maintains a list of company contact numbers, includes an "Insurance Agent Hotline" for reporting bad practices. Stacy will publish the Department’s annual budget for full transparency.
Crack Down on Insurance Fraud to Reduce Costs
Fraud drives up premiums for everyone. She will make it a top priority to strengthen enforcement and direct resources to actively investigate and prosecute insurance criminals. By taking a tough stance on fraud and ensuring that wrongdoers are held accountable, Stacy will work tirelessly to keep insurance costs down and protect consumers from dishonest practices that inflate rates and erode public trust in the insurance system.
Ensure Accurate and Honest Replacement-Cost Estimates
Too many homeowners learn after a disaster that their policy underestimated rebuilding costs. Stacy will hold the Department of Insurance accountable for ensuring replacement-cost valuations are accurate and transparent, so families aren’t left underinsured when they need help most.
Streamline Rate-Approvals From 300 days to the National Average
California takes nearly 300 days to approve insurer rate applications (five times longer than the national average). Stacy will streamline the process to hit the 60-day national benchmark, speeding up approvals and reducing uncertainty. Streamlining will prevent insurers from leaving and speed up approval of discounts and new products for consumers.
Strengthen Wildfire Prevention & Home-Hardening Standards
California is years behind on controlled burns and does not provide clear home-hardening guidance. Stacy supports the Board of Forestry’s work to create modern, science-based mitigation standards. Clear standards mean homeowners will know what to do to protect their homes and what savings they’ll get for doing it.
Reduce Reliance on the FAIR Plan
The FAIR Plan has become dangerously oversubscribed and was never intended to serve this many homeowners. Stacy will strengthen its solvency, reduce its size over time, and transition families back into the private market where they belong.
Create a Unified Disaster Command Center
During wildfires, floods, and earthquakes, regulatory agencies operate in silos. Stacy will take fast action bringing all major agencies, including CalOES, under one roof in a centralized disaster-response command center, improving coordination and speeding up relief for impacted families.
About Stacy Korsgaden
Stacy Korsgaden is a licensed insurance professional who is running for the Statewide office of Insurance Commissioner in California. Korsgaden has held an active insurance license (CA Department of Insurance License #0750748), since 1988. Stacy has spent her career helping families and small businesses navigate complex policies, devastating losses, and an increasingly broken system. As the owner of a successful multiline insurance and financial services agency, she has written policies, handled claims, managed risk, and worked directly with regulators – experience no other candidate can match. Korsgaden’s plan restores competition, expands insurance options, lowers costs for working families, strengthens consumer protection and disaster response, and brings stability, fairness, and affordability back to California’s insurance market through experienced, accountable leadership.