Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: ChicagoConservative27

Some or all insurance companies have been canceling policies. James Woods said his was cancelled 4 months ago. Why he did nothing is his problem. But when that happened the company was in effect stating that he property was un-inhabitable, as I believe is much of California. I


46 posted on 01/17/2025 8:27:43 AM PST by The Public Eye (The news shouldn't be predictable.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: The Public Eye

Insurance companies were looking at two pieces:

Risk

Premiums

Refusing to offer policies just means they were not allowed to charge premiums (by CA insurance regulators) that reasonably covered the risk.

CA regulations require insurance premiums that are among the lowest in the country for the equivalent replacement cost.

The insurance companies are taking extraordinary risk in CA at those premium levels even before taking into account wildfires and earthquakes.


51 posted on 01/17/2025 8:35:39 AM PST by cgbg (It is time to pull the Deep State out of the mass media--like ticks from a dog.)
[ Post Reply | Private Reply | To 46 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson