Los Angeles County: "F#@K YOU, PAY ME!" - Kotaku In Action 2

Los Angeles County: "F#@K YOU, PAY ME!" (media.scored.co)

posted 1 year ago by XBX_X 1 year ago by XBX_X +95 / -0

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– XBX_X [S] 8 points 1 year ago +8 / -0

... because normal people are going to get stuck in insurance hell.

Once again, they likely won't have the funds to rebuild and it'll only make sense to sell.

Before the fires burned more than 10,000 structures in Los Angeles County, insurers chose not to renew thousands of home insurance policies in Pacific Palisades, Altadena and other fire-prone areas. The rising costs and cancellations left many fire victims without adequate means to cover their losses, highlighting a deepening crisis in California’s property insurance market.

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– Unknownsailor 17 points 1 year ago +17 / -0

Insurers canceled policies because CA, in their infinite wisdom, mandated that insurers could not increase their rates due to the wildly known fire danger of CA's unmanaged tinder boxes formerly known as forests. CA also does not let state agencies outside of CA write policies to insure properties inside CA. CA is a walled off home insurance market, with significant government regulation that heavily affects risk underwriting.

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