State Farm Halts Home Insurance in California - WSJ

[AZDave]

California Insurance Commissioner Ricardo Lara does not plan on taking any action against State Farm after the insurance giant announced it was no longer accepting applications for new home insurance policies last month.

“Absolutely not,” Lara told KCRA 3 in an interview on Monday, responding to calls from consumer advocacy groups who have said he has the power to reverse State Farm’s decision. “According to my legal team, I don’t have the authority to do that." ; He also noted California homeowners can start getting discounts for hardening their homes against wildfires - https://programbusiness.com/news/ca...-says-he-cant-take-action-against-state-farm/

If he could, he surely would.....

 

[Markthebroker]

Ricardo is such a jackass. If he just lets the carriers raise rates enough to make money, then we would not have this problem

 

[marindependent]

start getting discounts

Yep because lack of discounts is now the problem. There seems to be some confusion in Sacramento about the core challenge here.

Wait till the Real Estate Industry puts two and two together here and starts lobbying for change.

 

[Markthebroker]

Yep because lack of discounts is now the problem. There seems to be some confusion in Sacramento about the core challenge here.

Wait till the Real Estate Industry puts two and two together here and starts lobbying for change.

Lolz, they are already getting deep discounts if you think about it. Both the coverages and premiums are discounted so deep that there aren't any. You can't get a bigger discount than 0.