> Gov. Gavin Newsom just released part of his solution to California’s home insurance crisis, and it boils down to a push to allow carriers to move faster to raise rates.

> In most cases, the Department of Insurance would be required to act on an insurance carrier’s rate request within 60 days, unless extensions are necessary.

> The proposed bill expedites the timelines laid out in Proposition 103, which requires insurance companies to have changes approved by the Department of Insurance and dictates how quickly the department must act on change requests.

> Critics fear that shortening approval timelines will allow insurance companies to jack-up premiums without room for public appeals and sufficient review by the Department of Insurance.

https://sfstandard.com/2024/05/30/california-insurance-crisi...

> The government banned insurance companies from raising prices. They used tax payer money to subsidize this for a while which increase home prices. Eventually insurance companies stopped offering insurance.

Obviously. Such a move by the government is just plain stupid.

> When state actors even dabble in socialism disasters happen people die.

No need to overgeneralize. Not every stupid move is immediately "socialism" and everything smart is "capitalism". It's obvious to every socialist that this move was stupid. In contrast, it's pretty clear that a purely market-based health system costs lives. Nobody is claiming though that "whenever societies dabble in capitalism it results in deaths". Pick your optimization target and then the right tool to reach that target. Sometimes that tool is to let prices regulate risk, sometimes it is laws to regulate risk, and sometimes it's something else entirely.

Ah yes. Socialism is when intervention and subsidies.