The Insurance Market Crisis in California

The state just got its first auto premium increase approved in years. Insurance companies, specifically home insurance companies in California are four times as profitable as the national average. There's a lot of uncertainty because the formulas that insurers are required to use to justify the premiums don't actually make actually sense and don't reflect actually sound hurdles to hit. The reason we need this rule is because we need to start putting in place the incentives to make our state better.