Quotes
We’ve been paying premiums over the past several years to prepare insurance companies for a catastrophe like this. Whatever they say, they have the resources to pay the claims,
said Douglas Heller, director of insurance at the Consumer Federation of America The new rules will allow insurance companies to charge so much, their policies will be technically unavailable [to many consumers],
We have to collect adequate premiums,
said Janet Ruiz of the Insurance Information Institute, an industry lobbying group We’re going to see some funky policies out there, ... some language we’re not used to seeing.”
Climate-related extreme weather events will become both more frequent and more violent, resulting in ever-scarcer insurance and ever-higher premiums,
a US Senate report on the insurance market warned just last month People come in with the expectation that they’re going to have to fight with their insurance adjuster and are on the defensive from the beginning,
Insurance companies make money by holding on to our premium and investing it and paying as little as they are required to pay – and sometimes less than that,
It's a privilege to follow Michael as CEO of this great company and lead an incredible team of more than 19,000 independent contractor agents and 65,000 employees who are committed every day to serving our customers. We'll push ourselves to continually improve so we're positioned to help even more people manage the risks of everyday life, recover from the unexpected and realize their dreams."
These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history. Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes. The devastation left behind is heartbreaking and the economic toll is staggering. To put this into perspective, the total damage and economic loss from this wildfire disaster could reach nearly 4 percent of the annual GDP of the state of California."
AccuWeather Chief Meteorologist Jonathan Porter said We are here for our customers to help begin the process of recovery,
the company, which canceled hundreds of home policies in Pacific Palisades last summer, said in a statement released earlier this week Agents can also help and, if needed, give customers more time to pay their premium. Our teams are standing by to assist,
State Farm wrote in its recent statement Insurance companies are pledging their commitment to California, and we will hold them accountable for the promises they have made,
It looks like an atomic bomb dropped in these areas. I don’t expect good news, and we’re not looking forward to those numbers,
The current LA fires will add further pressure to California’s embattled home insurance market, which has seen a number of major insurers stop writing new home insurance policies,
Quite often you get bushfires where there’s not much property damage, but with growing population and growing community wealth and economic development, it can lead to much more exposure to some of these risks,
There’s a lot of vested interest in building, with wood, in areas that shouldn’t be built in,
[O ... O]ne of the major insurances [sic] companies canceled all the policies in our neighborhood about four months ago,
People want to live in beautiful places,
retired fire chief Glenn Corbett told The Independent It looks like a bomb went off,
he said in a text message In the long term, we’re not going to be able to ‘rate increase’ ourselves out of this problem,
