I agree. The majority of the folks in the Palisades would not leave. The area is probably 99% Blue. Texas would be like arriving in Hell to these people. I think the majority of these folks are hoping for State or Federal funds to rebuild. Even though they never paid for insurance to protect them. That’s the nature of the Blue mindset…

quote:

Originally posted by Lineman101:
Even though they never paid for insurance to protect them. That’s the nature of the Blue mindset…

Not defending leftists, but as I understand it, most (if not all) did have insurance, but the policies were canceled a few months back by the companies due to some ridiculous new state laws.

^^^ California regulators won't allow rates to be set by the market. They just can't understand that when claims exceed premiums, insurance companies either leave the state or go bankrupt and out of business.

Policies of insurance were NOT canceled, they were non-renewed. There is a difference. They were not renewed because the California Insurance Commissioner would not allow carriers to charge the rates needed to satisfy actuarial concerns.

There was a guy on Foxnews that said 70% of the people didn’t have insurance. But that seems to suggest that 30% did. So not all the insurance was cancelled. But you gotta pay premiums to have coverage. The mega rich in this area have coverage. The less affluent, probably not. I saw the same mentality during the Northridge quake. There was apathy to obtain earthquake insurance and countless people were caught flat footed when that quake occurred… The banks didn’t care that your home was destroyed, that mortgage payment is due first of the month. I would also say that not all of the residents in the area are mega wealthy. And I’m sure the insurance premiums are astronomical. So many rolled the dice and lost… I’m not glad in any way about the destruction. It is sad, but many were willing to assume the risk for living in an exclusive area. You would live amongst the beautiful people…

I don't know the specifics of the Palisades area; but most likely many of the homeowners would have had their homeowners' policies not renewed by State Farm, the largest insurer in the state. State Farm has non-renewed thousands, and is issuing no new policies in the state, because the insurance commission refused to let them raise premiums to meet the expected losses from fires.

California has a history of sticking it to the big insurers like State Farm: after the Oakland Hills fire in 1989, State Farm was forced to make whole the people who were underinsured when other insurers could not pay the losses.

I am totally on State Farm's side in this, even though they would not insure us if we bought another home in CA. So far we have not been among those whose insurance was not renewed by SF, even though we are in a high-fire-risk area that was destroyed by fire in 2003 (Scripps Ranch).

Our Homeowner's insurance rates have tripled on our residence since we bought it in 2018.

Oh, I know what else I wanted to say. The state has a high-risk pool and theoretically homeowners can get their insurance there if turned down by other insurers. However, the reserves available are something like $250 million.

In the article noted below, Pacific Palisades has 1430 residential FAIR plan customers this year, an 85% increase from the year prior. So what happens when FAIR runs out of money? Why the state charges a surcharge to private insurers--which means us regular homeowners will pay the losses of those on the FAIR plan.

Link: Cal Matters; fire insurance

I don’t believe you can roll the dice if you have a mortgage. Any mortgage I’ve ever had required insurance and the lender would force place insurance if you let your policy lapse.

California could be different from Wisconsin though.

My understanding is that when State Farm dropped renewals last summer, homeowners had the choice to jump onto FAIR insurance, which is backed by the state. FAIR premiums are quite high and losses are capped at $3M per home. So probably in those areas, people are underinsured with FAIR.

Edit to add: homeowner insurance policies usually provide replacement cost instead of market value, so $3M is a lot of money for rebuilding, so many of those homes in the Palisades might not be underinsured.

quote:

Originally posted by SigLaw:
Policies of insurance were NOT canceled, they were non-renewed. There is a difference. They were not renewed because the California Insurance Commissioner would not allow carriers to charge the rates needed to satisfy actuarial concerns.

So in short, they were canceled. Thanks.

For a few years I had clients telling me the force place insurance the bank obtained was cheaper than house insurance so they went with force place Doesn’t cover liability, personal items or any amounts above the bank loan amount. So it’s really playing with fire.

Even in the Bay Area for years the homeless would accidentally start fires and burn their shanty’s and tent camps.

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by SigLaw:
Policies of insurance were NOT canceled, they were non-renewed. There is a difference. They were not renewed because the California Insurance Commissioner would not allow carriers to charge the rates needed to satisfy actuarial concerns.

So in short, they were canceled. Thanks.

I'm sorry Balzé Halzé, but SigLaw is right. There is a difference. Insurance is a contract, a given premium in exchange for specified coverage, for a given term. Non-renewal happens when a term is complete. The insurer lived up to its promises, it just chose not to enter a new contract.

quote:

Originally posted by 229DAK:
Someone get him a fiddle.

They already did.

https://x.com/JonCovering/stat...34040356869?ref_url=

quote:

Originally posted by chellim1:

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by SigLaw:
Policies of insurance were NOT canceled, they were non-renewed. There is a difference. They were not renewed because the California Insurance Commissioner would not allow carriers to charge the rates needed to satisfy actuarial concerns.

So in short, they were canceled. Thanks.

I'm sorry Balzé Halzé, but SigLaw is right. There is a difference. Insurance is a contract, a given premium in exchange for specified coverage, for a given term. Non-renewal happens when a term is complete. The insurer lived up to its promises, it just chose not to enter a new contract.

It's a distinction without a difference.

From your perspective, perhaps.
From a legal perspective, it matters.

Report: Gavin Newsom Cut $100 Million from Fire Prevention Budget in 2024

https://www.breitbart.com/poli...vention-budget-2024/

California Gov. Gavin Newsom (D) cut $100 million from the state’s fire prevention budget in 2024 before residents in the Los Angeles area were hit by wildfires, Newsweek reported.

Los Angeles Mayor Karen Bass (D) slashed almost $20 million from her city’s budget for fire services for the current fiscal year, Breitbart News reported on Wednesday.

Newsweek‘s article, published on Friday, continued:

The 2024-25 California state budget, which Governor Gavin Newsom signed into law in June 2024, slashed funding for wildfire and forest resilience by $101 million as part of a series of cutbacks according to an analysis by the state’s Legislative Analyst’s Office.

However overall, the California Department of Forestry and Fire Protection (CAL FIRE)’s wildfire protection budget has increased sharply from $1.1 billion in 2014 to $3 billion in 2023, much of which took place after Newsom became governor in 2019.

Speaking to Newsweek, a spokesperson for Newsom said that under the governor’s “leadership” the CAL FIRE budget had doubled from $2 billion in 2018-19 to $3.8 billion in 2024-25, whilst the department’s personnel went from 5,829 to 10,741 over the same period.

On Friday, a citizen affected by the California wildfires, which have claimed the lives of 10 people, confronted Newsom and asked him what he was going to do about the disaster, Breitbart News reported.

More at link

quote:

Originally posted by chellim1:
From your perspective, perhaps.
From a legal perspective, it matters.

It's semantics. Of course it's perfectly legal. If I don't renew a subscription, say like Netflix, we say we canceled our subscription. The contract was fulfilled, and then not renewed. Canceled. It's precisely the same situation here, except in reverse. Again, a distinction without a difference.

Trump’s Warning On California Wildfires Ignored As Destruction Spreads

I DON'T KNOW HOW TO EMBED THIS...


https://x.com/JackPosobiec/sta...struction-spreads%2F

AND JOE ROGAN

https://x.com/Imsheeplovelies/...struction-spreads%2F

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by chellim1:

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by SigLaw:
Policies of insurance were NOT canceled, they were non-renewed. There is a difference. They were not renewed because the California Insurance Commissioner would not allow carriers to charge the rates needed to satisfy actuarial concerns.

So in short, they were canceled. Thanks.

I'm sorry Balzé Halzé, but SigLaw is right. There is a difference. Insurance is a contract, a given premium in exchange for specified coverage, for a given term. Non-renewal happens when a term is complete. The insurer lived up to its promises, it just chose not to enter a new contract.

It's a distinction without a difference.

Yeah, the result is the same regardless of how it got there.

quote:

Originally posted by corsair:

quote:

Originally posted by Sig2340:
If there isn't a weather window long enough to allow fire crews to get ahead of the spread, Rogan's comment about "burned to the ocean" might come true.

Have you not looked at a fire-map...the fire burnt all the way to the ocean, everything along the PCH, all the homes on Topanga Beach, LaCosta, Carbon, Malibu, Las Tunas Beach etc gone,...Moonshadows is gone, Reel Inn is gone. The Palisades Fire's Westward (technically Southward, that part of the coast faces South) movement was stopped by the Pacific Ocean.

Rogan spoke of a fire in San Bernardino making it to the ocean. Yeah, right across the basin.