California Insurance Commissioner Candidate Stacy Korsgaden | Insurance Crisis, Prop 103 & Reform Plan

LyteSpeed Learning and the American Agents Alliance continue this exclusive series introducing the candidates for California Insurance Commissioner. In this episode, we sit down with Stacy Korsgaden, a longtime Farmers Insurance agent, to discuss the current state of California’s insurance market and why she’s running. Korsgaden shares her perspective on the insurance crisis, including carrier market exits, the growth of surplus lines, and increasing wildfire risk. She also discusses how her industry experience shapes her approach to regulation and consumer protection. We cover key issues impacting California today: Proposition 103 and its role in the market The rise of surplus lines insurance California’s FAIR Plan challenges Wildfire mitigation and risk management strategies The balance between regulation and market stability Korsgaden also outlines her proposed priorities: Faster rate approval timelines Creating a new division to attract admitted carriers Depopulating the FAIR Plan Strengthening wildfire mitigation through coordination at all levels Addressing fraud and exploring tort reform Expanding licensing and education to better serve consumers 🔗 Learn more about her campaign: https://stacyforinsurancecommissioner.com 🎧 This series is built to inform and educate insurance professionals, agents, and consumers on the future of California’s insurance landscape.