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This just seems like another reason why businesses such as insurance should not be doing business in California. What other insurer that has higher than expecte
by elmerfud 2y ago
This just seems like another reason why businesses such as insurance should not be doing business in California. What other insurer that has higher than expected losses can simply pass on the overages to other unrelated companies? This just boggles my mind why any insurance company would do business in that state, especially for something high risk like this. It sounds to me like those people who were getting their insurance through the FAIR plan need to be charged higher rates across the board because the insurance company that deemed these places uninsurable were correct in their assessment.
It's like the state doesn't believe that underwriters know what they're doing. If you want to share the burden make the taxpayer of California pick up the difference. Just more insanity coming out of California.