State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it would not issue new home policies in the state
The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.
These houses weren’t built when these zones were high risk and more companies are moving out, leaving people with nothing.
Frankly, I feel no pity in forcing companies that have bent people over and fucked them to insure these places. Maybe that’ll teach them a lesson in not helping fight climate change as risk management