This is the first time I have heard that Proposition 103 limits insurers’ abilities to price catastrophic reinsurance into their rate filing requests; if true, that is very interesting, and is a problem to overcome. As for the FAIR Plan, it’s great that the state offers a backstop for Fire Insurance (just as it does for Auto and Earthquake coverage), but those should be markets of last resort, not of first resort, such as AAA’s HO-3, which specifically excludes Fire, and uses the CA FAIR Plan as a wrap. The Insurance Commissioner and Legislature should disallow.
In the last two years my insurance has been non-renewed twice (two different companies). The California FAIR option is all I can find. My premiums are 3 times what they were 2 years ago. There are 350,000 people in California in my situation. This article is written by an out of touch, stuffed shirt, who doesn’t understand what is really happening on the ground here.
I agree, CAfoothills. I wonder if the writer still feels the same now? This mess just continues to get worse and is affecting more people, in more areas than our Ca Foothills. That CA UnFairplan is just too expensive.
We had to drop the price of our house way too much, just to get our house sold. Buyers were scared off by the $6,000 Quotes from the so called “Fair Plan”. We had two buyers that dropped out of escrow after getting their insurance quotes. Property values are declining and I see many houses just sitting on the market, because people are afraid of having a house that is uninsurable, or unaffordable to insure.
Yes, THIS IS A CRISIS, just maybe not for the writer as most likely, Mr Lehmann is unaffected by this.
This is the first time I have heard that Proposition 103 limits insurers’ abilities to price catastrophic reinsurance into their rate filing requests; if true, that is very interesting, and is a problem to overcome. As for the FAIR Plan, it’s great that the state offers a backstop for Fire Insurance (just as it does for Auto and Earthquake coverage), but those should be markets of last resort, not of first resort, such as AAA’s HO-3, which specifically excludes Fire, and uses the CA FAIR Plan as a wrap. The Insurance Commissioner and Legislature should disallow.
In the last two years my insurance has been non-renewed twice (two different companies). The California FAIR option is all I can find. My premiums are 3 times what they were 2 years ago. There are 350,000 people in California in my situation. This article is written by an out of touch, stuffed shirt, who doesn’t understand what is really happening on the ground here.
I agree, CAfoothills. I wonder if the writer still feels the same now? This mess just continues to get worse and is affecting more people, in more areas than our Ca Foothills. That CA UnFairplan is just too expensive.
We had to drop the price of our house way too much, just to get our house sold. Buyers were scared off by the $6,000 Quotes from the so called “Fair Plan”. We had two buyers that dropped out of escrow after getting their insurance quotes. Property values are declining and I see many houses just sitting on the market, because people are afraid of having a house that is uninsurable, or unaffordable to insure.
Yes, THIS IS A CRISIS, just maybe not for the writer as most likely, Mr Lehmann is unaffected by this.