BREAKING: State Farm won’t renew 72,000 home and apartment policies in California because of inflation, regulatory costs and increasing risks from catastrophes. “This decision was not made lightly and only after careful analysis of State Farm General’s financial health, which continues to be impacted by inflation, catastrophe exposure, reinsurance costs, and the limitations of working within decades-old insurance regulations,” the company said in a statement. Budenomic at work.
@ImMeme0 I own an insurance agency. What they won’t mention is when BLM and activists burned down cities for years. That plays into all of this too.
@ImMeme0 Everyone is moving out of California
@ImMeme0 It will be blamed on climate change in 3, 2, 1.......
@ImMeme0 Yea, they know whats probably coming before we do...
@ImMeme0 This 2022 report is really scary insurancejournal.com/app/uploads/20… about the challenges facing insurers.
@ImMeme0 Unlike a good neighbor State Farm is nowhere to be found. 🤣
@ImMeme0 If you can’t insure your private property you’re one step closer to “You’ll Own Nothing”…