seethe
https://x.com/unusual_whales/status/1877069835164684468
California homeowners are reporting that insurance companies recently cancelled their fire insurance, per MorePerfectUnion.
— unusual_whales (@unusual_whales) January 8, 2025
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This one is entirely on California. By law insurance companies in California are not allowed to take future forecasts into account when setting premiums. Additionally the amount they can raise premiums each year is capped. The result is that escalating wildfires are wiping out insurance companies (because they are prohibited by law from setting premiums at levels that are sustainable) and most of them are simply leaving the state.
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Lmao I'm sure MorePerfectUnion left this little tidbit out. They make The Guardian look like Fox News, Vox like newsmax, and DailyKos like Stormfront.
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Can't California just make a law that insurance companies aren't allowed to leave the state? And a law forcing them to pay out after bankruptcy? And a law that bans fires from burning down homes?
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They did that lol. They made them stick around for like a year more than they would have otherwise.
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Some of them try that with companies moving states to escape the union that's ruining them.
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That's cool i blame black people tho
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black people are symptom of late stage capitalism. under communism there are no black people
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