45
State Farm asks for huge California home insurance rate increase, signaling financial distress
(www.sfchronicle.com)
this post was submitted on 28 Jun 2024
45 points (97.9% liked)
California
1446 readers
232 users here now
Welcome to /c/California, an online haven that brings to life the unrivaled diversity and vibrancy of California! This engaging community offers a virtual exploration of the Golden State, taking you from the stunning Pacific coastline to the rugged Sierra Nevada, and every town, city, and landmark in between. Discover California's world-class wineries, stunning national parks, innovative tech scene, robust agricultural heartland, and culturally diverse metropolises.
Discussions span a wide range of topics—from travel tips and restaurant recommendations to local politics and environmental issues. Whether you're a lifelong resident, a recent transplant, or planning your dream visit, /c/California is your one-stop place to share experiences, ask questions, and celebrate all the things that make California truly unique.
Related Communities:
Nearby Communities:
- California
- Bakersfield, CA
- Bay Area, CA
- Burbank, CA
- Fresno, CA
- Long Beach, CA
- Los Angeles, CA
- Oakland, CA
- San Diego, CA
- San Jose, CA
- San Francisco, CA
- Sacramento, CA
- Santa Clarita, CA
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Maybe they should have analyzed and prepared for risks that someone could project and price like those actuaries do for….insurers.
well, until that's required of them, businesses will just get beat by someone with the same success as then that doesn't save money for a Rainy day. any money not being spent to make more money is wasted to them.
and remember, the companies aren't people. the people with money in them also have money in 1000 other companies. they're not actually that concerned about them succeeding long term. they have more to gain by pushing fast and hard knowing that 80% of them will fail because the few that don't are worth around a trillion dollars.
Your point is well made, I'm not sure you caught my sarcasm in noting that they literally (well, supposedly) have precisely the expertise and processes to have seen the fire claim risks here or hurricane risks in the south or tornados in the midwest and mitigated their own exposure accordingly….but you're right - roll the dice and win and they rake in the cash today and F tomorrow.