Farmers Insurance is the latest company to limit new homeowner policies in California, saying that record-breaking inflation and severe weather events have increased business costs.
The decision went into effect on July 3, according to company officials.
How long before the CA legislature tries to force insurers to take them and subsidizes their effort and thereby become defacto insurance companies
ReplyDeleteAnd CA will take over the box store locations that closed and the tax payer will cover the stolen products as reparations.
DeleteYou mean like obama care? Why do you think newsome is planning on running?
DeleteThey can always jack up the premiums to offset, but to me this seems more like a statement. Don't get me wrong, Commiefornia can F-R-Off.
ReplyDeletePremiums are regulated in nearly every state. Even if the regulating agency eventually recognizes economic reality, with the way losses are soaring, a company could go bankrupt waiting for the regulators.
DeleteAs of today, Farmer's is cutting back on new policies in Florida too. Too much risk with the building boom and bad weather.
ReplyDeleteNew regs are the problem.
ReplyDelete"California Insurance Commissioner Ricardo Lara announced new insurance protections in 2021."
Bigger payouts and lower premiums from the unelected bureaucrats.
If you still willingly live in California, it's hard to feel any sympathy. Apparently requesting bail just got struck down too, so I can just imagine how good it's about to get.
ReplyDelete