Inszone Insurance Services acquired Webtec Insurance Services Inc.
Webtec is a specialized insurance agency primarily focused on auto and homeowners insura
nce. Originally based in California, which remains the bulk of its business, the agency later relocated its home base to Colorado.
Sacramento, California-based Inszone is an insurance brokerage firm offering a range of property/casualty, along with employee benefits services.
Expect more efforts to reform California’s troubled homeowners insurance market from
the state’s next top insurance regulator regardless of who wins a race that has now been whittled down to two candidates.
Democrats Jane Kim and Ben Allen are advancing to the Nov. 3 primary in the race for California insurance commissioner. The top two together garnered more tha
n 45% of the votes cast in the June 2 primary. The winner will replace outgoing commissioner Ricardo Lara, who is term limited.
Kim, who raised more than $700,000 during her campaign, is pushing a publicly backed single-payer disaster insurance system.
Allen is a state Legislator who has authored several bills to address insurance affordability in t
he state, including creating new home-hardening incentives. He raised $977,000 for his campaign.
Insurance agent Stacy A. Korsgaden, a Republican, conceded the race earlier this week to Kim and Allen.
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Ballots are still being counted, but latest figures from the California Secretary of State show Kim has 27.3% of the votes, with 2.2 million people marking the box next to
her name. Allen has 19.4% of the vote, followed by Korsgaden, who ran a close third with 15.87% of the vote.
She was asked what she thought of the efforts from outgoing Commissioner Lara to get carriers to return to writing homeowners insurance in California throug
h regulation changes that include enabling reinsurance to be used in rate-setting, the use of newer catastrophe models and expedited rate requests.
“Those have been solutions for the insurance industry, which is important because they’re one
of the stakeholders, but it hasn’t done anything to make insurance more affordable for everyday consumers,” Kim said.
She argues that the property/casualty industry “is doing exceedingly well,” reporting its first full-year underwriting gain in four years, fueling a jump in net income to $170
billion, and that it’s the insurance consumers who need help now.
She called out Travelers as an example of how well she feels the P/C industry is doing. The carrier
eported a strong enough profit for the first quarter of 2026 that it announced it was returning more than $2.2 billion of excess capital to shareholders during the quarter.
“And so, the insurance industry is booming, it is very profitable…and instead of sharing the success of their profits with their policyholders in the form of discounts or eve
n just investing in resiliency to reduce everyone’s collective risk, they’re just distributing it back to their shareholders,” Kim said.
