Industry Representative Puts Fire Insurance Availability at Feet of Commissioner

By | December 6, 2019

  • December 10, 2019 at 8:27 am
    CL PM says:
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    Question – This article says wildfires have cost insurers $20 Billion. Just read in another article that PG&E agreed to pay $13 Billion to victims of wildfires. Will the $13 Billion actually be paid back to insurance companies who already paid to help the victims rebuild? Couldn’t determine that for sure from other article.

    • December 10, 2019 at 9:10 am
      Andrew says:
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      Remember there are deductibles over various amounts (times 800,000 policyholders) and other costs that insurance will not cover that PG & E is likely liable for in some part or for all.

    • December 10, 2019 at 6:51 pm
      FurriePrincess says:
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      PG&E already made a deal with the insurance companies based on their payouts. This is for the individuals with no insurance or under-insured and also includes payments for emotional trauma, etc. It will be handled by an independent (?) trustee. The people who have filed claims with PG&E will need to negotiate with the trustee as to how much reimbursement they receive.

  • December 10, 2019 at 10:48 am
    Observor says:
  • December 10, 2019 at 2:46 pm
    Jack says:
    Well-loved. Like or Dislike:
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    “As early as 2015 the Department of Insurance hadn’t been granting rate increases and they stared to push rates down,” Frazier said. “Then they turn around and wonder why there’s a lack of availability in high risk areas when they have a role in creating that. When you control price, it’s restricting availability.”

    Think it’s bad now, wait until socialism F’s up everything.

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