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#ThanksClimateChangeAndFossilFuelIndustryDisinformation
If they spent less on those Mayhem commercials during the final 4, they’d have more money for claims…
Just ask Flo.
She knows a thing or two, because she's seen a thing or two...
Flo. Boobs.Just ask Flo.
She knows a thing or two, because she's seen a thing or two...
So now (in this thread) companies should be thinking about more than their bottom line?And not just Cali...
State Farm hesitant to insure northern New Mexico homes
ALBUQUERQUE, N.M. – It’s becoming more difficult to insure your home or business against wildfires in New Mexico – that’s according to some local insurance agents.“We’ve had a lot of larger residential houses where we’re not able to find them an option at all,” said Jake Boles, an...www.kob.com
Seems State Farm just wants to be your neighbor in Goldilocks places....
So now (in this thread) companies should be thinking about more than their bottom line?
Trad knows what's best for insurance companies, not those mamby pamby actuaries.The entire idea behind property insurance is that everybody pays in, so that when the inevitable happens, the insurance company can pay out.
Limiting the number of insured properties runs counter to this idea. They should try to get more people putting money into the pot, not fewer.
This is so stupid. It has been and always will be a desert. Read Cadillac Desert. There are far too many people there.#ThanksClimateChangeAndFossilFuelIndustryDisinformation
I work in insurance. Brah… this is dumb.The entire idea behind property insurance is that everybody pays in, so that when the inevitable happens, the insurance company can pay out.
Limiting the number of insured properties runs counter to this idea. They should try to get more people putting money into the pot, not fewer.
Then don't go in there in the first place.I work in insurance. Brah… this is dumb.
Limiting the number of insured properties is called de-risking and stock insurance companies and mutual insurance companies are doing it all over the country. You take in a bunch of claims out of an area that gets hit hard every year, it won’t be long before you’re out of business.
Then don't go in there in the first place.
That’s Allstate.If they spent less on those Mayhem commercials during the final 4, they’d have more money for claims…
Primary insurers aren't able to get re-insurance due to increased risks and increased costs.The entire idea behind property insurance is that everybody pays in, so that when the inevitable happens, the insurance company can pay out.
This is so stupid.
I work in insurance. Brah… this is dumb.
Limiting the number of insured properties is called de-risking and stock insurance companies and mutual insurance companies are doing it all over the country. You take in a bunch of claims out of an area that gets hit hard every year, it won’t be long before you’re out of business.
Isn’t this shit happening in FL too?
Adding bad risk for the sake of market share is a terrible idea.The entire idea behind property insurance is that everybody pays in, so that when the inevitable happens, the insurance company can pay out.
Limiting the number of insured properties runs counter to this idea. They should try to get more people putting money into the pot, not fewer.
Yep
Primary Insurers are trying to balance the income they get from policyholders (which has limits in some states) with their own re-insurance premiums they need to pay to larger re-insurers. And those underwriting costs have skyrocketed over the past decade or more, as climate change risks have become obvious.
We had a whole climate change thread over this, and Trad (I recall) claimed the re-insurers were just "gouging"; he had no answer when I asked why some other rich entity doesn't just step in and make money undercutting those "gouging" re-insurers. They are all raising their rates, because the financial risks are skyrocketing with the climate risks: fires, floods, etc.
Wisconsin Reinsurance Company which used to cover many Iowa mutuals is on the verge of going under… yeah, not price gouging when you are paying out 10s of millions in CAT claims monthly.Yep
Primary Insurers are trying to balance the income they get from policyholders (which has limits in some states) with their own re-insurance premiums they need to pay to larger re-insurers. And those underwriting costs have skyrocketed over the past decade or more, as climate change risks have become obvious.
We had a whole climate change thread over this, and Trad (I recall) claimed the re-insurers were just "gouging"; he had no answer when I asked why some other rich entity doesn't just step in and make money undercutting those "gouging" re-insurers. They are all raising their rates, because the financial risks are skyrocketing with the climate risks: fires, floods, etc.
If the public knew how many insurance carriers were currently insolvent the banking collapse would be a after joke.Wisconsin Reinsurance Company which used to cover many Iowa mutuals is on the verge of going under… yeah, not price gouging when you are paying out 10s of millions in CAT claims monthly.
"There" specific to California is a top market in the world.Then don't go in there in the first place.
They're walking away mainly due to climate change risks & associated costs of major disasters.So now, major carriers walking away from a top 20 world market because the politics and crime have gotten so costly.
Joe, I'll humor your bullshit on several topics but you are in my world now. I have forgotten more about insurance than you will ever know.They're walking away mainly due to climate change risks & associated costs of major disasters.
EVERY Re-insurance company literally tells you this on their website. Go look it up.
Munich RE
Lloyds
Etc. Etc. EtcEtc
Joe, I'll humor your bullshit on several topics but you are in my world now. I have forgotten more about insurance than you will ever know.
Hahaha... smart of you to fold your hand. Cat's have thier own bucket.You seem to know very little about re-insurance. If this is "your world", then you're clearly in the bottom decile of inhabitants there...
it's assholes stealing cars, it's assholes driving around uninsured/ underinsured.
You're a clown.They've all taken the blue pill. Sad.
God damn you are dumb. It's the second ****ing paragraph.Why are you bringing up auto insurance, in a thread that has little to do with it?
State Farm stops home insurance sales in California, citing wildfire risks
Reinsurance rates are hitting their highest levels since the 90s. And it's absolutely due in large part to climate risks/exposures. In CA, that risk is wildfires. In FL, that risk is flooding and hurricane (becoming stronger than historically)
Selling insurance in flyover country to people is a far cry from the actuarial work and re-insurance industry.
“State Farm General Insurance Company made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market,” the company said in a statement.
Learn to read, Cletus
God damn you are dumb. It's the second ****ing paragraph.
'due to historic increases in construction costs outpacing inflation"
Are secondary, just like the order they were listed in.And the other two points I've been making for you. Which you continue to ignore.
You're probably right Joe because there were never droughts before the climate change scare. I remember reading about all the SUVs causing dust bowls in the 1930s.Primary insurers aren't able to get re-insurance due to increased risks and increased costs.
Wanna guess why?
Go read a bit on Munich-RE's site or Lloyd's of London about "climate change" and insurance costs. Learn something today.