- Joined
- May 8, 2014
- Messages
- 40,833
It always pisses me off to see poor management in anything, but govt in particular makes me rage. Particularly when that poor management ranges from poor preparation (which is a primary job of those who lead) to actually driving insurance out.Could California be headed for a homeowners insurance catastrophe?
Regulation often has unintended consequences, and when it becomes so burdensome that insurers cannot support communities, everyone loses.www.ocregister.com
From 2 1/2 years ago no less...
Insurance provides homeowners with financial security, and it is their first line of defense when tragedy strikes. The California DOI must focus on increasing insurers’ appetite to operate in the state. This will increase competition and broaden the risk pool, giving consumers more options at a lower cost.
These companies know what they're doing. They have to be able to manage their risk and they have the stats over time and they also do a ton of research to project shit. If you set them up where they can't manage that risk then the loser is the average citizen, who already has enough fucking bullshit on their plate. I don't like them any more than anyone else, and a lot of them are shady as fuck. But they're a necessary evil.
Hope the govt can help make up some of the shortfall for the people who have lost their homes or more. Particularly the ones who were not insured. There's no words for how terrible this is man.