Posted on 01/11/2025 8:32:35 AM PST by catnipman
California Insurance Commissioner Ricardo Lara has banned insurance companies from canceling or not renewing polices for homeowners affected by the Palisades and Eaton fires for one year, his office announced. He also wants to backdate that to Oct. 9.
pretty much reminds you of Directive 10-289 ...
https://theexplanationproject.fandom.com/wiki/Directive_10-289
(Excerpt) Read more at abc7.com ...
Compounding mistake on mistake.
Also means rates across the nation will skyrocket to bail them out.
The companies that stay will skyrocket premiums.
Yes, it will.
And what do you suppose will happen to fire insurance policy sales in CA? And if people can’t insure their (largest) asset, what will happen to the housing market?
10-289
No insurance company will be dumb enough to check into Hotel California again...
A friend of mine in high school had a Vega in the 80s and he planned to drop a 350 engine in it. His dad wisely said no.
This isn’t worth much because the houses that burned and were insured will be rebuilt under their current policies and the conditions that caused the wildfire have been eliminated by the fire.
Knowing the complete lack of fire protection in California, insurers should charge a $1 million premium.
If I were an insurance company once I could get out of California I would and never come back! Same goes with Banks...
The government does not have the right to force an insurance company to offer coverage. Just as the government does not have the right to force a store to remain open for business even though the owner decided to close it.
here comes the lawfare
“This will guarantee that the remaining insurance companies finally flee California permanently ... “
When the insurance companies are pushed too far this is exactly what will happen, and they cannot force the insurers to do business in the state although they will probably try.
There was a fella in my small town that did put a 350 in his Vega. Another guy that was older had a supper bee with line lock.
The Vega guy could not afford that, so he disconnected his rear brakes.
That thing could sure melt the rear tires.
No one would get in the death trap with him.
Yep. It guarantees massive rate hikes in the rest of the state (and nation) and massive cancellations in the rest of CA if you have so much as a single tree or grass field within a quarter mile of your house.
"You can ignore reality, but you can't ignore the consequences of ignoring reality."
Perhaps Ayn Rand's most widely cited contribution to civilization.
Perhaps Ms. Rand would recognize our modern, ultra-compressed version of her famous saying: "FAFO."
"They were the FA-est of times, they were the FO-est of times."
“Compounding mistake on mistake.”
Government’s greatest achievement!
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