Increase in insurance

[timd354]

State Farm for many past years have not insured new policies (I ask every year) around here.
Don't know how State Farm insurance workers make money.

State Farm makes money by avoiding undue risk that they are unable to price for, like in California

 

[Fernando]

State Farm makes money by avoiding undue risk that they are unable to price for, like in California

I see State Farm commercials on TV here. Waste of money when CA can't buy from them.

 

[timd354]

I see State Farm commercials on TV here. Waste of money when CA can't buy from them.

They probably will insure some properties in CA, but not others. They also probably sell auto coverage in CA.

 

[Fernando]

There was a 4.3 earthquake at Berkeley last night. Freaked my wife out and woke me. I just went back to sleep.
No big deal. Not that big.
I hope this will not scare what available insurers in the market for CA customers.

 

[Charles West]

I was in Santa Clara last night and I felt the rumble in the Hyatt.

 

[Fernando]

I was in Santa Clara last night and I felt the rumble in the Hyatt.

Did you see the exciting 49ers game?
I was watching Raiders game and they were losing in first half. Good since they left Oakland, I want Raiders to lose.
And beg their way back to Oakland. Unfortunately, the stadium property has been sold and difficult to come back.

 

[timd354]

Did you see the exciting 49ers game?
I was watching Raiders game and they were losing in first half. Good since they left Oakland, I want Raiders to lose.
And beg their way back to Oakland. Unfortunately, the stadium property has been sold and difficult to come back.

The Raiders are never returning to Oakland. Oakland is permanently finished as an NFL, NBA and major league town

 

[Fernando]

Consumer Watchdogs File Insurance Reform Ballot Measure Guaranteeing Fire-Safe Homeowners Right To Coverage & Other Rights, Respond To Deregulation Initiative

Consumer Watchdog have filed a ballot measure guaranteeing insurance coverage to homeowners who meet wildfire mitigation standards set by the state.

consumerwatchdog.org

Homeowners Right To Coverage & Other Rights, Respond To Deregulation Initiative
The leaders of Consumer Watchdog have filed a ballot measure guaranteeing insurance coverage to homeowners who meet wildfire mitigation standards set by the state. The “Insurance Policyholder Bill of Rights” also prevents companies from engaging in the “use it and lose it” practice of denying coverage to policyholders who file claims, and extends a host of other new consumer rights.

The initiative also preserves and expands the protections under insurance reform Prop 103 that guarantee that all rates are approved by an impartial, elected insurance commissioner before taking effect. The filing responds to another ballot measure by a wealthy insurance broker that allows insurance companies to raise rates without having to open their books and justify their rates to the insurance commissioner first, repeals Prop 103’s other consumer protections and requires the insurance commissioner to have worked for the insurance industry for at least five years.

 

[timd354]

Consumer Watchdogs File Insurance Reform Ballot Measure Guaranteeing Fire-Safe Homeowners Right To Coverage & Other Rights, Respond To Deregulation Initiative

Consumer Watchdog have filed a ballot measure guaranteeing insurance coverage to homeowners who meet wildfire mitigation standards set by the state.

consumerwatchdog.org

Homeowners Right To Coverage & Other Rights, Respond To Deregulation Initiative
The leaders of Consumer Watchdog have filed a ballot measure guaranteeing insurance coverage to homeowners who meet wildfire mitigation standards set by the state. The “Insurance Policyholder Bill of Rights” also prevents companies from engaging in the “use it and lose it” practice of denying coverage to policyholders who file claims, and extends a host of other new consumer rights.

The initiative also preserves and expands the protections under insurance reform Prop 103 that guarantee that all rates are approved by an impartial, elected insurance commissioner before taking effect. The filing responds to another ballot measure by a wealthy insurance broker that allows insurance companies to raise rates without having to open their books and justify their rates to the insurance commissioner first, repeals Prop 103’s other consumer protections and requires the insurance commissioner to have worked for the insurance industry for at least five years.

If that pauses, the exodus of insurers from the state will be breathtaking

 

[Fernando]

My insurance broker just asked me how close is my property to fire hydrant and fire station. WTF.
Then I used ChatGPT to find closest fire station. Just love ChatGPT.