Democrats continue to fail Los Angeles.
Why did people have their home insurance canceled prior to these fires? Why is your mayor still in Africa? Why are your water reservoirs not filled?
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redredred · M
Insurance companies are in business to make money by providing a service people want. They are not public utilities to be forced to provide coverage at mandated rates. Companies establish internal limits on sales in high risk areas.
When California mandated price limits many companies pulled out. This pushed the business to the remaining companies until their limits were reached and then they stopped selling in California
The result is that insurance is priced low but there isn’t any to buy. This is the long established economic rule about price controls; it ALWAYS results in shortages. Houses and businesses burned without coverage bankrupting thousands and the governor and LA mayor will somehow blame Trump.
When California mandated price limits many companies pulled out. This pushed the business to the remaining companies until their limits were reached and then they stopped selling in California
The result is that insurance is priced low but there isn’t any to buy. This is the long established economic rule about price controls; it ALWAYS results in shortages. Houses and businesses burned without coverage bankrupting thousands and the governor and LA mayor will somehow blame Trump.
redredred · M
@Thrust in a stroke of bizarre luck, James Woods discovered that his house was untouched.
No one is required to do business where they don’t want to. Insurance companies cover risk, not dead certainties. If California doesn’t want to take reasonable steps, i.e. clearing brush, keeping fire reservoirs full, fully staffing fire departments, destructive fires become a virtual certainties. One can’t underwrite as an insurance risk what amount to a certainty.
No one is required to do business where they don’t want to. Insurance companies cover risk, not dead certainties. If California doesn’t want to take reasonable steps, i.e. clearing brush, keeping fire reservoirs full, fully staffing fire departments, destructive fires become a virtual certainties. One can’t underwrite as an insurance risk what amount to a certainty.