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There are no insurance towers with over $2b of limit. As a consequence this is going to seriously hurt 3M. In addition this will drastically increase the cost o
by etothepii 3y ago
There are no insurance towers with over $2b of limit. As a consequence this is going to seriously hurt 3M. In addition this will drastically increase the cost of their (and their peer's) insurance policies over the next 10 years.
- deleted 3y ago[deleted]
- occamrazor 3y agoPG&E had a 26b$ insurance tower IIRC. It was completely blown by the wildfires.
- etothepii 3y agoDo you have a source for this? Is this not based on reinstatements? Which insurers could between them put out that kind of limit?
- occamrazor 3y agoI didn’t remember correctly. PG&E had just above a billion tower. 21bn is the total capacity of the new California Wildfire Fund, that provides liability insurance to the California utilities. https://www.guycarp.com/insights/2020/05/california-wildfire-fund-and-flood-re-in-the-united-kingdom-protecting-our-planet-and-the-public-purse.html https://www.guycarp.com/insights/2020/05/california-wildfire...