Posted on 08/01/2022 6:33:46 PM PDT by hapnHal
“Well, unless another explanation is supplied, I am going with “Defunded the police and crime is up which makes the state unprofitable for the company.”
We have a winner Alex!
Sounds like it is pulling out of the state. Smart move.
EXACTLY!!!!!!!
Well hopefully more and more business isolates California by leaving...
“Geico probably determined that P & C was a loser in California. Too many uninsured (read illegals).”
Not just that: California is a terrible legal and regulatory environment for insurers.
And the irony is, Mexico is bitching about it, and wants to send them back to California!
Spike in the California gecko unemployment rate.
I think insurance agents are exempt from the law.
“A lengthy list of professions won exemptions from AB5, largely because they typically set their own prices and negotiate directly with their customers. They include doctors, dentists, psychologists, insurance agents, stockbrokers, lawyers, accountants, engineers, direct sellers, real estate agents, hairstylists, commercial fishermen, travel agents and graphic designer”
Could be the Oracle of Nebraska smells the faint smoke of a done-for real estate boom.
Things have certainly slowed down where I live & labor, but a good deal of that comes from the $10-20 million dollar get-aways all getting away.
And El Presidente de Mehico said “You know, Caleefornya, eets not sending us their best!”
But but what about that cute GEICO gecko?
They cancelled PA way back when i had them. Just cancelled my car insurance so i cancelled them. never again.
Uninstall your adblock and give uBlock Origin a try.
What I remember about GEICO is that they were like the first company to go after the boy scouts because they were not gay.
Now just look where things are.
You might say that GEICO is the father of the entire “Woke” movement.
not much the State can do about it ... if they piss of GEICO even more, GEICO could just pull out of the state all together ...
Living as I am in a third world country, I can say with some authority that its quite easy to get auto and home insurance here. California regulatory problems are another matter entirely.
Yeah, they made their bed. Let them lie in it.
;-)
Hopefully, you’re not in LA or SanFranFreako proper.
And, best of luck.
CA WAS THE most beautiful state, next to HI, in my book....until the leftists completely ruined everything they’ve put their greedy and filthy hands on.
At least you still have the gorgeous climate and the beautiful ocean views. Nothing compares, in the rest of the lower 48 (imo).
Remember the bubble of 2008?
Insurance has been in a bubble state for a long time, exacerbated by Obamacare.
Add to it the practice of reinsurance and debt buying where debt is passed off as assets and you have a creaky Jenga tower going.
It’s more complicated than this, but it’s the cliffnote condensed version.
A hard enough knock to insurance companies, say a good portion of died unexpectedly, and the kit and kaboodle goes down.
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