> California Insurance Commissioner Ricardo Lara has banned insurance companies from canceling or not renewing polices for homeowners affected by the Palisades and Eaton fires for one year, his office announced. **He also wants to backdate that to Oct. 9.**
I’m sure the insurance companies will just gladly eat a multibillion dollar loss out of the goodness of their hearts
ModernMaroon on
It’s all so tiresome.
okarunXXJijiStan on
The backdating would set a terrible precedent and cause even more non-renewals ASAP. You can’t take away the ability to cancel and the ability to raise prices to market levels while also doing nothing to restrict or deter people from living in risky areas.
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Something harmful market signals something
> California Insurance Commissioner Ricardo Lara has banned insurance companies from canceling or not renewing polices for homeowners affected by the Palisades and Eaton fires for one year, his office announced. **He also wants to backdate that to Oct. 9.**
I’m sure the insurance companies will just gladly eat a multibillion dollar loss out of the goodness of their hearts
It’s all so tiresome.
The backdating would set a terrible precedent and cause even more non-renewals ASAP. You can’t take away the ability to cancel and the ability to raise prices to market levels while also doing nothing to restrict or deter people from living in risky areas.
Backdating this seems illegal but what do I know