{"id":523116,"date":"2026-11-08T20:44:09","date_gmt":"2026-11-08T20:44:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/523116\/"},"modified":"2026-11-08T20:44:09","modified_gmt":"2026-11-08T20:44:09","slug":"jane-kim-vows-state-run-wildfire-insurance-fund-for-california","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/523116\/","title":{"rendered":"Jane Kim vows state-run wildfire insurance fund for California"},"content":{"rendered":"

California\u2019s next insurance commissioner<\/a> is promising a sweeping overhaul of the state\u2019s embattled insurance industry<\/a>, including a first-of-its-kind public disaster insurance program that would guarantee wildfire coverage for homeowners.<\/p>\n

Jane Kim, a former San Francisco supervisor<\/a> 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.<\/p>\n

\u201cWe are here to say no more. We are going to make insurance work for us again,\u201d Kim told supporters at her victory event.<\/p>\n

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Jane Kim, who defeated fellow Dem Ben Allen in the race for insurance commissioner, declared victory Friday. Lea Suzuki\/San Francisco Chronicle via AP<\/p>\n

\u201cWe are going to take on this $3-trillion industry because they have been profiting for way too long by raising our premiums, canceling our coverage and fighting our claims.\u201d<\/p>\n

Kim\u2019s proposal, dubbed \u201cNatural Disaster Insurance for All,\u201d would separate wildfire coverage from traditional homeowners insurance policies and move it into a public, nonprofit fund.<\/p>\n

The program would make wildfire insurance<\/a> available to every current California homeowner, with premiums going toward providing coverage rather than executive compensation, shareholders or corporate advertising.<\/p>\n

Crews make a stand in front of the Bryson Fire on Friday, Oct. 16, 2026, in Malibu, Calif. (AP Photo\/Jae C. Hong) AP Photo\/Jae C. Hong<\/p>\n

A firefighter battles the Norte Fire as it burns a house in San Juan Capistrano, Calif., Friday, Oct. 16, 2026. AFP via Getty Images<\/p>\n

\u201cThe idea is that every current homeowner would be covered, and it would be a nonprofit fund where premiums don\u2019t have to go to CEO pay, shareholders and Super Bowl ads,\u201d Kim said.<\/p>\n

The ambitious proposal comes as California grapples with an increasingly severe homeowners insurance crisis, with major carriers retreating from the state and residents struggling to find affordable coverage.<\/p>\n

Seven of California\u2019s largest property insurers have limited or paused new homeowners policies in the state, shrinking the private insurance marketplace as wildfire risks and rising costs continue to threaten coverage.<\/p>\n

Firefighters douse a burning home during the Norte Fire on Friday, Oct. 16, 2026, in San Juan Capistrano, Calif. AP Photo\/Jae C. Hong<\/p>\n

Homeowners insurance premiums have surged<\/a> 84% since 2020, according to Stanford research, while enrollment in the state\u2019s FAIR Plan \u2014 the insurer of last resort for homeowners unable to secure coverage through traditional companies \u2014 has nearly tripled.<\/p>\n

The plan now covers roughly 5% of California homes, up from less than 2%, highlighting how the insurance crunch has spread beyond traditionally fire-prone communities and into the broader housing market.<\/p>\n

Kim\u2019s proposed public fund would effectively create a separate safety net for wildfire coverage, rather than forcing homeowners to rely entirely on private insurers.<\/p>\n

But turning the proposal into reality could prove difficult, requiring cooperation from state lawmakers and community leaders to establish the program and determine how it would be funded and administered.<\/p>\n

\u201cThis office is not a dictatorship. We\u2019re going to have to work with community leaders across the state to make our big ideas possible,\u201d Kim said.<\/p>\n

Despite the hurdles, the incoming commissioner-elect said she expects to make progress on affordability and availability during her first year in office.<\/p>\n

Kim is promising a sweeping overhaul of California\u2019s embattled insurance industry. San Francisco Chronicle via Getty Images<\/p>\n

\u201cI really believe we\u2019re going to have some wins in our first year because there is a lot of work that can be done to make insurance more affordable, more available and more fair,\u201d she said.<\/p>\n

Kim, 49, secured approximately 53% of the vote to Allen\u2019s 47%, according to the Associated Press. Her victory margin has grown to approximately 400,000 votes as additional ballots were tallied.<\/p>\n

Allen called Kim to congratulate her on the victory Friday morning before she announced the results to supporters at San Francisco\u2019s Dolores Park.<\/p>\n

The win hands Kim responsibility for overseeing one of California\u2019s most troubled industries at a time when homeowners are facing mounting premiums, canceled policies and fewer options<\/a> for protecting their properties.<\/p>\n

Her proposed nonprofit disaster insurance system would represent a major departure from the state\u2019s traditional insurance model \u2014 and one of the most consequential tests of her incoming administration.<\/p>\n

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