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Thoughts on whole life insurance? Worth it?
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PwC Hello people I need u r advice. I have joined Capgemini on 29 april , but I got opportunity in UST Global and my joining is on 27 of may I dont want to continue in capgemini, I informed manager he told me 3 months notice period for that u can apply for loss of pay but of will be deducted, and ust global will come to know about it. What if I absconding from ccapgemini, will I get pf , or will it effect my employment in UST GLOBAL please yaaa dont ignore please help me. Deloitte USI KPMG India Pw
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No idea. I get the human aspect to this but clearly State Farm made the right decision to make sure they remain financially stable. It’s not their fault people have homes there. Unless they didn’t follow legal guidelines to get off those risks then I don’t see what all the fuss is about. I’m sad for everyone impacted by this but it’s not on State Farm.
Agreed. It’s a tough situation for everyone. I just realized that this is a fire season for December. Hopefully they get rain before summer.
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I think people believe insurance is more of a public service, but it’s definitely a business and companies are going to do what brings in more profit.
In all honestly, instead of marketing themselves as your best friend and lifelong partner with stupid animals, they should be constantly reminding their customers that they are buying a financial product that protects their asset the the next 12 months based on today’s known risks.
I do think insurance company’s have the absolute right not to write a policy if they aren’t getting paid what the risk is actually worth (it sounds like CA controls the rates?)
Because they held the most policies for the state and just dropped like 70k customer last month. I think in large part it's due to ignorance when it comes to how insurance works. I saw a tiktok today where the Insurance commissioner issued a moratorium to stop any non renewals and cancelations for a year ect so forth. People in the comments yelling about where is this for NC where was this for HI why didn't he do this for anyone else and how he can't legally control how insurance companies operate. People think they should get all premiums for years they paid in back if they had no claims the list goes on. I see this going really bad honestly with the whole Luigi thing new videos are going around with photos of Sf Ceo talking about here's the ceo for no reason whatsoever like it's going to cover them legally or something. Its insane. They all think that companies shouldn't have a choice where or how to do business as if its feasible to continue when their Doi refused increases for so long they are the ones who caused it.
Basically the same as everytime anything happens in the US
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Because it seems a bit fishy that they dropped so many policies just before a major fire took out so many homes...almost as if they knew something was about to happen..
Pro
I do think there is some conspiracy actually...So many celebrity homes were burned down, I know yall aren't that out of touch that you don't know a lot of them were connected to Diddy and all the scandals going on with his case...what better way to get rid of evidence than to burn it all down. the poor people that lost their homes were just collateral damage.
For all those who do not live in California, California is highly regulated compared to other states. But the Insurance commissioner authorized recently that Insurance companies now bring in computer programs/AI who will rate the policies rather than Underwriting people. When that happened, highly risky areas were identified that were never identified before. Many of the policies are also using Google pictures overhead as part of their rating.
As an Engineer I see this an issue with their computer programs. Insurance companies are complaining about mold or leaves on the roofs of policyholders, yet the pictures shown none. The companies' modeling programs need to be worked and adjusted to use those pictures in a more meaningful manner.
My recollection is State Farm is #1 insurance company so that is probably why that company is always named.
California has a State Insurance company now which is like Reinsurance in Florida, where the insurance companies put money into it. Just like the Reinsurance in Florida, yes, it is expensive, but that might be the way California moves forward. That part I don't know.
Probably because they are a major carrier with a huge amount of policies. So many policies were dropped compared to small to mid sized characters. The big wigs are also still making BANK and this angers a lot of people.
I think that’s going to be the tough part to remove attention from.
Because State Farm is labeled to the public as the top insurer
SF PR/marketing management team is probably in a bind right now.
State Farm is a welll known company that recently pulled out of California. Considering the insane cost of building replacement homes and the insane fire risks created by government incompetence, it seems State Farm was wise to get out. The media hates insurance companies, just look at their support for the guy who murdered the United Healthcare CEO.
State Farm didnt pull out of CA. Theres a pause in writing new policies. If the Insurance commissioner approved the rate increases, then State Farm can remain profitable and reopen home insurance coverage again.
Honestly, it seems like the media is right to focus on this—it’s a huge blow for California homeowners in the middle of so many other disasters (I think the media has also appropriately focused on the mismanagement of water resources too). Insurance companies are quick to drop coverage when it’s financially convenient. You won't find me feeling sorry for State Farm right now. They dug their grave if you ask me
I have to disagree with you CA 1. You don’t stick around in an agreement if the odds are fully against you times tens of thousands or more. It doesn’t work. What do you think would happen to SF if they had to pay all of those claims? Do you think the company would still be standing? Google says the average home value for a home in Pacific Palisades is $3,300,000. I can’t imagine (because I’m not in that role) what a policy like that would look like. That’s not a feasible relationship. SF would tank.
Isn’t State Farm the largest insurance company?? I was always lead to believe that. When you are the biggest kid on the block you are always being watched.