But, “You’re in good hands with Allstate”.
They’d be better off selling insurance in Ukraine.
Insurance presupposes the assumption of reasonable risk collectively distributed among law abiding people who share common values. California sorely lacks the type of people or values that make commercial insurance possible.
tumbling into the sea
(“We take seriously our responsibility to manage risk,”)
So does George Costanza!
The jar is round
The cup is round
They should call it “Roundtine”
That’s gold, Jerry! GOLD!!!
DOI Commissioner Ricardo Lara in September 2022 invoked a law — signed in 2018 by then-Gov. Jerry Brown — prohibiting insurance providers from canceling or refusing to renew plans for properties affected by wildfires until 12 months after the fire.
A moratorium on insurance price increases during the pandemic only heightened tension within the insurance industry.
“Risks are getting worse, and rates are going to have to go up to ensure insurers are solvent and operational in California,” Seren Taylor, a senior legislative advocate with the Personal Insurance Federation of California, told the Bay Area News Group in August 2022.
Lara in 2019 ordered California’s FAIR Plan, an insurance plan of last resort, to expand its coverage beyond fire to include liability, theft and other parts of a homeowner’s policy. Insurance companies, which manage and fund the state-created FAIR Plan, have challenged the newer rules in court.
Insurance companies wield a lot of power. When they start to bail it’s bad. Anymore you can’t put your left foot in front of your right without them. Especially businesses. They’re in business to make money, not hand it out.
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Just think of the slip-and-fall risk on San Francisco streets...
Jake is saddened.
As of May 30th, Wilton Reassurance Life Company of New York is taking over the life insurance section of Allstate. I’ve had a whole life insurance policy with Allstate for many years. My monthly payments are automatically taken out of my bank account, so I’m hoping there won’t be a problem down the road. They said there shouldn’t be. They also said that my current Allstate agent will continue to be my agent for my policy.
I have skipped auto collision insurance since I began buying new cars only in 1967. Over 55 years I have saved enough to buy 2 brand new cars.
Soon to quit writing auto insurance as the glorified golf carts proliferate and a relatively small fender bender results in the complete write off of the vehicle.
State Farm said Friday, May 26, that it will stop accepting new applications for property and casualty insurance in California..
Home sales will stop very quickly.
Ahhh, but wait until renewal time.
All the insurance companies are running for the border of Florida as well. We have a company of last resort run by the government. It will soon be the only company doing business in Florida things keep going the way they are. Ronnie doesn’t care.
Notice they spread out the losses by increasing the home insurance premiums in other states each year. However, in a “low-loss” year, our insurance rates never go down.
I’m rather touchy on the subject since our insurance costs has doubled since Biden was installed. We have never made a claim against our insurance company and yet our bill which has remained stable for years, suddenly increased quite a bit last year and again this year. With inflation on the rise once more, I expect it to increase again next year.
Since State Farm has opened the door (so to speak) we might see other home-owner’s insurance companies taking the opportunity to bolt the state as well.