Insurance unlock? What new commissioner could mean for California resi

"November seems far off, but some agents are looking to the fourth quarter and what the election for California Insurance Commissioner could yield. Carolwood Estates' David Yadegaran is one. The Real Deal caught up with him on Friday as his co-listing in Brentwood on actor Patricia Richardson's home was set to close. He said he's hopeful about the year. Big sporting events such as the FIFA World Cup and 2028 Olympic and Paralympic Games are part of the optimism."

"Steven Bradford (D), a former state senator and 2009 mayor of Gardena. He's pushing for transparent pricing, discounts for properties that address earthquake or fire prevention and a public-private insurance partnership in high-risk communities. Patrick Wolff (D), originally from New York, Wolff founded an auto and home insurance business and holds a property and casualty license from the state. Wolff aims to up the accountability of insurance companies with mandates such as discounts for homeowners with reduced fire risks around their properties"

Agents anticipate fourth-quarter activity driven by major sporting events and the November election for California Insurance Commissioner. Insurance has tightened in Los Angeles, compounding market challenges. Ricardo Lara is termed out, and four candidates — three Democrats and one Republican — are competing. Ben Allen seeks greater Department of Insurance transparency, reduced reliance on the FAIR Plan, and regulated carrier responses after disasters. Steven Bradford pushes transparent pricing, discounts for earthquake and fire prevention, and public-private partnerships in high-risk areas. Patrick Wolff emphasizes insurer accountability and homeowner discounts for reduced fire risk. Stacy Korsgaden frames problems around accumulated regulations and rigid price controls.

Read at therealdeal.com