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State Farm won't renew 72,000 insurance policies in California

53 点作者 lispybanana大约 1 年前

7 条评论

fbdab103大约 1 年前
Is there a map of where these places are? I am willing to defer to State Farm and believe that they are very data driven. The nature of insurance is making smart bets.<p>Are these all clustered in a few hot spots that are likely to go under the next time there is a fire&#x2F;landslide&#x2F;earthquake? Why these units and not others? What does State Farm consider the most insurable places to live?
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Zanni大约 1 年前
This sounds more like a wildfire management crisis than an insurance crisis.
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jaggs大约 1 年前
It&#x27;s sad and kind of ironic that the thing that may end up pushing climate action the most will be insurance. Eventually the premiums will be so high in vulnerable areas (including coastal regions) that living there will become a lottery.<p>We&#x27;ve already seen those poor people who tried to hold back the sea with a $350,000 sand barricade which lasted one hour. Their homes are now effectively worthless.
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ChrisArchitect大约 1 年前
[dupe]<p>Some more discussion a few days ago: <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=39790505">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=39790505</a>
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FabHK大约 1 年前
Somewhat related: The book <i>When McKinsey Comes to Town: The Hidden Influence of the World&#x27;s Most Powerful Consulting Firm</i> (by Walt Bogdanich and Michael Forsythe) exposes the short-sighted, amoral, and insidious way the firm often operates and advises. There are many instances recounted (advising oil companies, tobacco, Saudi Arabia, the Sackler family on how to sell more OxyContin, etc.).<p>What made me most angry, though, is how they turned an insurer (AllState, if memory serves right) from a sleepy mom-and-pop shop that collected premia and paid most of them out again when a covered loss occurred into a profit-maximising entity whose bosses were &quot;incentivised&quot; with stock options and implemented McK&#x27;s glorious plan to boost profits by making it incredibly hard for victims to get their rightful payments. Absolutely despicable.
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renewedrebecca大约 1 年前
Like a good neighbor, State Farm moved the hell out.
reilly3000大约 1 年前
There is plenty I miss, but not living in California is one of the best decisions I’ve made.
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