insurance company bails out of California

[chowderman]

businesses have apparently had enough of the Fruitcake Farm

State Farm stops accepting home insurance applications in California: 'Difficult place to do business'

State Farm announced it would stop accepting certain insurance applications in California citing 'cost-related reasons' as inflation continues to run rampant.

www.foxnews.com

 

[Melensdad]

Can't blame them for not wanting to lose money.

Easier to pull out of an entire state than to fight all the shareholders that are looking for a return on their investment.

 

[Doc]

Can't blame them at all.

LOL at first I read the title of this thread as: INSURANCE COMPANY BAILS OUT CALIFORNIA.

 

[m1west]

businesses have apparently had enough of the Fruitcake Farm

State Farm stops accepting home insurance applications in California: 'Difficult place to do business'

State Farm announced it would stop accepting certain insurance applications in California citing 'cost-related reasons' as inflation continues to run rampant.

www.foxnews.com

Whole thing caused by PG&E starting the fires, and the forest service/ cal fire policy of letting them burn until they are so far out of control they take a month and a billion dollars to put them out.

 

[power1]

It shouldn't be that hard to figure out how to stop the electrical fires.

 

[chowderman]

uhmmm, not electrical fires. CA prohibits trimming even a millimeter off a tree. so the transmission lines become over grown, a bit of wind, a bit of branches, electrical arcing/shorting starts forest fires.

there is a debate over whether the electric company did not do it's duty, or whether the electric company was forbidden to do it's duty.

looking at any other location, ones with brains, homeowners are encouraged to cut back brush/combustibles from their homes - as a preventative measure to watching their house go up in flames. however, such brain activity is prohibited in CA.

which, is only part of the problem - CA where housing/apartments/condos go for tens of thousand$ per square foot . . . it's the "view" we're told . . . . makes them un-insurable. the premiums must be so high, you can't afford the multi-million-dollar mortgage.

 

[m1west]

It shouldn't be that hard to figure out how to stop the electrical fires.

I live in rural Ca. What the problem is with PG&E is they don't do required maintenance on there equipment. they have been sewed on multiple occasions and filed bankruptcy, people have been killed and PG&E found guilty of gross negligence, but PG&E being a corporation has had no- one face any kind of charges. Also as I stated above, fires were left to burn by the forest service for weeks then the wind comes up and suddenly its a state emergency and the insurance companies flee the state. All done so the Dims can force people from the rural areas and give them ammunition to talk about climate change. There is no law here that you can't trim tree branches, and PG&E fails to do that also.

 

[Melensdad]

. . . but PG&E being a corporation . . .

Correct me here but PG&E is a public monopoly, granted special rights and privileges by the state under very heavy state regulations, with a board that is at least partially politically controlled and also union controlled?

Perhaps the fact that they have all this state, political and union protection is part of the problem.

 

[m1west]

Correct me here but PG&E is a public monopoly, granted special rights and privileges by the state under very heavy state regulations, with a board that is at least partially politically controlled and also union controlled?

Perhaps the fact that they have all this state, political and union protection is part of the problem.

Its a game, whenever there is a fire that they started and then the investigation turns up evidence that they have been falsifying documentation and not doing the maintenance on multiple occasions, Newsome comes out and throws them under the bus and were are going to get to the bottom of this and hold people accountable. He gets a big donation to his re election and not much if anything happens. There are a few small energy providers here , East bat SMUD, Oakdale irrigation and a few others but by the most part PG&E is a monopoly as you stated. And after everyone of the disasters they created, they are allowed to raise rates to recover losses associated with there disaster. Our rates are up 277% in a year and a half.