i can only see more of this

[Bassbob]

Insurance companies are nothing more than legalized theft. Judging by what happened in NY, maybe they should be investing in body armor for their board members. I think the general public is pretty damn fed-up with insurance of all kinds.

They're owned by banks.

 

[Addison3]

exactly, the banks don't want to own land, they want the cash each month...

true too, we ALL pay millions of dollars for insurance over our lifetime, from perhaps our first set of wheels.

what are they doing with the monies they rake in..??

buy each member of the board a private jet..??

cars, boats, condos, vacations, bonuses,.....???

how about if they just re-invest THAT money instead of doling it out monthly or quarterly..??

how about re-investing monies into higher paying investments?

maybe then, like in my case, DO NOT have full replacement value of the home repairs? but rather what the cost would have been maybe 5 years prior...?

my insurance guy(s) had told me, my premiums would be astronomical if i had "full replacement coverage".....as a senior citizen, i cannot afford those premiums. maybe a high falutin movie star can, but not us "ordinary people", so i take what i can and then move into a condo, or trailer park.

i mean seriously, the insurance industry pulling out of disaster prone areas, will not stop, or they will demand higher coverages at higher premiums, with still Limits on coverages.

what then,, a government bailout for them too...????

If I recall correctly, In years past due to natures destruction property owners in Florida had several major insurers stop writing policies. The Stated kicked in to help subsidize cost and availability of insurance. Maybe other States should look into doing the same or come up with a program that’s similar.

 

[Talyn]

Insurance companies are a Ponzi scheme.

 

[Old_Me]

If I recall correctly, In years past due to natures destruction property owners in Florida had several major insurers stop writing policies. The Stated kicked in to help subsidize cost and availability of insurance. Maybe other States should look into doing the same or come up with a program that’s similar.

gotta be careful with any local, state, federal "subsidized" monies.

that can only (to me) mean tax hikes, surcharges as in make a claim...get socked with a surcharge, ask nearly any NJ resident about surcharges on thier auto insurance) , or fee's on everyone.

if the insurance company falters, then its on them as to why...too many bonuses for the executive board? too high salaries for them..?? etc,etc.

no bailouts, hadn't we learnt for the automakers and their continued downfall AFTER bailouts..??

 

[Addison3]

gotta be careful with any local, state, federal "subsidized" monies.

that can only (to me) mean tax hikes, surcharges as in make a claim...get socked with a surcharge, ask nearly any NJ resident about surcharges on thier auto insurance) , or fee's on everyone.

if the insurance company falters, then its on them as to why...too many bonuses for the executive board? too high salaries for them..?? etc,etc.

no bailouts, hadn't we learnt for the automakers and their continued downfall AFTER bailouts..??

I believe as you said... you need to be careful about subsidized. I have noticed in past years when ever there is a disaster regardless of it's location in America my own insurance policies took a hit. Do I think it's right? Not really, but your home is on fire or some how you have lost everything, it seems to me that if you have insurance coverage then that said company needs to step up and do what's right and make things right.
Maybe if said company defaults then depending on the facts, that or those companies should be closed down. There is no easy answer but when we pay to have coverage and the day comes we need to put in a claim justice must prevail .

 

[NMEDGE]

Don't worry, WE will be all paying for this disaster. Bet is everyone's insurance policy bill will go up this year. I'm getting pretty tired of it personally.

 

[The Night Rider]

how is it legal to cancel a policy right before a disaster??

and ca insurance commissioner allows this ????

Are you saying that the insurance companies had foreknowledge of these fires?

If I understand what I've read correctly, he's homeowners were building in an area where their homes were almost guaranteed to burn down. It was only a matter of time.

The insurance companies were left with the choice of asking those people to pay more because they were a higher risk or going out of business leaving nobody with insurance.