Jane Kim wins California insurance commissioner race

Jane Kim, a progressive Democrat and former San Francisco supervisor, has declared victory in the race for California insurance commissioner. Kim secured approximately 52.7% of the vote, defeating State Sen. Ben Allen, who received 47.3%.

Kim’s victory could lead to significant shifts in how wildfire risk is managed in the state. She has proposed the creation of a state-run, single-payer disaster insurance program designed to remove the profit motive from wildfire coverage. This program would require homeowners to pay into a system based on their specific fire risk and a shared state cushion, with funds potentially used for wildfire prevention and home hardening.

In contrast, Ben Allen campaigned on reforming the existing private market by shortening rate review processes. The election was notable for being the first time two Democrats faced each other for this position and for the high volume of outside spending, totaling nearly $8.2 million. Major contributors included cryptocurrency billionaire Chris Larsen and Pacific Gas & Electric.