A State Farm executive was fired after an undercover video recorded during a Tinder date appears to show him talking about rate hikes after the SoCal wildfires.
The FEMA flood insurance has some requirements about flood prevention activities to continue being eligible. This is just regular old private insurance though, so it’s not the general public paying the price. At some point government might step in to backstop or subsidize it though.
More than 2,100 properties across the U.S. enrolled in the National Flood Insurance Program have flooded and been rebuilt more than 10 times since 1978, according to a new analysis of insurance data by the Natural Resources Defense Council (NRDC). One home in Batchelor, Louisiana has flooded 40 times over the past four decades, receiving $428,379 in insurance payments. More than 30,000 properties in the program, run by the Federal Emergency Management Agency, have flooded multiple times over the years.
… wtf do people think happens at boardroom meetings?
Is it even a surprise that a home insurance company is planning on raising rates… in a collapsing country, where about 1/3 of homes are no longer viable for relevant insurance from 2030 onward, due to climate change?
Is it not common sense that if we pool our money together to cover accidents then the people who are more prone to accidents, therefore pulling more money out of the pool than others, should be contributing more? How do people think rates are calculated?
It should also be a big clue: If insurance companies don’t want to take your money, you are doing something dumb. Don’t build stick houses in wildfire zones.
He said the quiet thing out loud. That’s what he was fired for.
The next person will just keep their mouth shut and stick to the original plan.
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Isn’t some disaster aid contingent on rebuilding in the same place?
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The FEMA flood insurance has some requirements about flood prevention activities to continue being eligible. This is just regular old private insurance though, so it’s not the general public paying the price. At some point government might step in to backstop or subsidize it though.
And yet…
https://e360.yale.edu/digest/thousands_of_us_homes_keep_flooding_and_being_rebuilt_fema_insurance_louisiana
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Only fired because he got caught.
… wtf do people think happens at boardroom meetings?
Is it even a surprise that a home insurance company is planning on raising rates… in a collapsing country, where about 1/3 of homes are no longer viable for relevant insurance from 2030 onward, due to climate change?
This is only the beginning.
Is it not common sense that if we pool our money together to cover accidents then the people who are more prone to accidents, therefore pulling more money out of the pool than others, should be contributing more? How do people think rates are calculated?
It should also be a big clue: If insurance companies don’t want to take your money, you are doing something dumb. Don’t build stick houses in wildfire zones.