California's Insurance Commissioner Race Weighs Public Risk Against Market Deregulation

California homeowners will see their premiums and coverage options determined by the state's next insurance commissioner, who holds the authority to approve rate hikes for home and auto plans. The incoming official will decide whether to maintain the Sustainable Insurance Strategy, a policy that allows insurers to use climate models to justify rate increases in exchange for writing more policies in high-fire areas. Other candidates propose a state-run natural disaster insurance program to guarantee universal coverage and lower premiums by removing the profit motive, while others advocate for deregulating the industry to boost competition and lower costs. These decisions determine whether homeowners face higher premiums, universal coverage, or increased market competition.