California Insurance Crisis

From: Chuck Darling

January 15,  2025

 

Insurance crisis:

 

California has failed to prepare

for its frequent fires.

 

Reservoirs low, or unavailable.

 

Fire Hydrants with no Water.

 

Unusable Fire engines, due to

incomplete repairs.

 

Many Insurance companies

have begun to pull out of

California...

 

 

Allstate. 

American National. 

AmGUARD.  

Falls Lake Insurance. 

Farmers Insurance Group. 

Nationwide. 

State Farm.

The Hartford.

Travelers.

Tokio Marine Insurance Co.

Trans Pacific Insurance Co.

etc...

 

This leaves 

The Fair Plan as the insurer of last resort.

 

The Fair Plan will likely bankrupt.

 

California will then force the remaining

Insurance companies to pay.

 

But most of them will be long gone.

 

Then how will California rebuild?

 

It won't.

 

The land will be sold off to

(Foreign) Developers.

 

This will lead to:

Higher Property Costs

Higher Rents

More crime

Higher Insurance Rates

More Businesses Leaving

More people leaving California..

 

Huh.

 

[Chuck's 00Cedar JPICedar ]

 

 

 

 

[ This page built with JPICedar by Chuck Darling Wednesday Jan-15-2025 Time : 11:30a]