More California implosion

archives said:
Don’t do acronyms, have no idea what “ftfy” is suppose to mean, but how am I wrong, if homes can’t be insured the value of the home decreases and the cost goes down
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They want to abandon the market?


Let’s do it our selves


It will catch on in other states


They are fucking themselves
 
NiftyNiblick said:
I have a new thread on just this topic.
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Being a non-profit doesn't mean you have unlimited money and therefore can exist by losing money. It doesn't work that way.

If you want everyone to have get insurance through the government (i.e. taxpayers) good luck with that. The state of California has a program called the 'FAIR Plan' which operates as a lender of last resort. But it only covers fire and is hugely expensive. What you would actually get back in the case of a fire is minimal as well. Many people go without rather than with that plan.
 
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archives said:
Which in a capitalist market means costs will come down and another insurer will fill the void, and since the source is unobtainable, I’d doubt the policy effects the whole State but rather select areas
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Right, because less competition means prices come down...

Or something.


Standard Disclaimer: Were you born this fucking stupid, or did you ride a motorcycle into a brick wall doing 90 with no helmet on?
 
evince said:
Take out the cost of PROFITS


NON PROFIT INSURANCE



Fuck those corporations whores who can’t provide a service because then they can’t make enough money to set their mistress up
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Then why don't you start a non-profit insurance company, Comrade? I'm sure your bosses in the CCP will fund the venture...
 
archives said:
Don’t do acronyms, have no idea what “ftfy” is suppose to mean, but how am I wrong, if homes can’t be insured the value of the home decreases and the cost goes down
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ROFL

It is jaw dropping how stupid you are, just astounding.

If a home can't be insured, then no one can get a mortgage - meaning that homes can't be sold, and the housing market collapses completely.

You Communists love to claim California is the 7th largest economy in the world - if the Communist policies in California destroy the housing market - it will do FAR more than crash California's economy - it will cause a nation wide depression, possibly a global depression.

BUT China will come out on top - and that's the real goal, isn't it?
 
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Would not be surprised to see big carriers bail on CA auto coverage as well. Increasingly more companies are realizing that despite the huge size of the CA market, it’s just not worth doing business there.
 
archives said:
Which in a capitalist market means costs will come down and another insurer will fill the void, and since the source is unobtainable, I’d doubt the policy effects the whole State but rather select areas
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Areas prone to wildfire and high construction costs...basically all of California.

Most wildfires in California are started by arsonists.
 
cawacko said:
My best friend lives in L.A. and is big in the corporate insurance world. I asked him about this and his response 'this is what happens when you won't allow insurers to price in risk'.

As I understand it basically the state wants to put caps on certain costs under the guise of 'consumer protection' but won't them raise costs elsewhere to make up for the loss. In such a scenario it's not surprising companies are reducing what they offer or pulling out altogether.

Most of this is directed at people who live in higher risk wildfire areas (Lake Tahoe is one example). Since little happens in a vacuum this is also a result of the state's NIMBYism. The state has basically stopped growth in urban areas so people move further out where it is more 'affordable'. Some of these further out areas are in more wildfire prone areas (and we won't get into how poorly the state has handled that).
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Exactly. This is yet another case where price controls don't work. It just causes shortages.
 
evince said:
And people need insurance


If the market can’t provide it the state can set up a non profit insurance of homes


Take that you corporate whores


No profit means it will be much much cheaper
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California already DOES provide an 'insurance of last resort' here. It's very expensive. Government ain't cheap.
 
Uncensored2008 said:
ROFL

It is jaw dropping how stupid you are, just astounding.

If a home can't be insured, then no one can get a mortgage - meaning that homes can't be sold, and the housing market collapses completely.

You Communists love to claim California is the 7th largest economy in the world - if the Communist policies in California destroy the housing market - it will do FAR more than crash California's economy - it will cause a nation wide depression, possibly a global depression.

BUT China will come out on top - and that's the real goal, isn't it?
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China won't come out on top. There are no winners in a global economic depression.
 
CA bureaucrats have been hammering insurance companies for a couple of decades now, they were always going to run out of runway at some point.
 
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