Now, estimated losses are up to $20 BILLION for insurers. This is ~60% more than the inflation adjusted value of the previous most expensive wildfire in US history. Could this cause an economic ripple effect?
Posted by MainBrief2189
Now, estimated losses are up to $20 BILLION for insurers. This is ~60% more than the inflation adjusted value of the previous most expensive wildfire in US history. Could this cause an economic ripple effect?
Posted by MainBrief2189
4 Comments
Will be interesting to see what effect this has on the stock market and if the government will have to step in and stop insurance companies from going bust. Remember that they always have money for Ukraine and people can say it’s weapons all they want, then weapons still need replacing that cost money.
They don’t give billions of dollars of weapons away and not replace them, it just doesn’t happen.
Southern California Edison has erased ~$6 BILLION of market cap as of Friday. The economic effects are spreading beyond insurance companies as well.
The insurance companies will just get bailouts from the government, and the taxpayers will end up footing the bill as usual.
Proof of the inherent corruption of “insurance”