GREEN NEW DEAL = BLIZZARD OF LIES

[turbguy + 1,545]

6 minutes ago, Ecocharger said:

Yes, of course, the issue was the deadhead laws being passed in California which is a much more important issue than anthropogenic climate change. Without property laws, the economy would collapse.

I would counter that a person, with a residence, and mortgage, is MUCH more interested in economically obtaining the required Homeowners Insurance, than with a law change that could affect Business Insurance premiums.,

How can you sell a house, without the "buyer pool" being able to obtain a mortgage, which all Mortgage Companies I know of require a minimal amount of HOMEOWNERS insurance. Cash on the barrel?

[Ecocharger + 1,477]

1 minute ago, turbguy said:

I would counter that a person, with a residence, and mortgage, is MUCH more interested in economically obtaining the required Homeowners Insurance, than with a law change that could affect Business Insurance premiums.,

How can you sell a house, without the "buyer pool" being able to obtain a mortgage, which all Mortgage Companies I know of require a minimal amount of HOMEOWNERS insurance. Cash on the barrel?

The basic laws for Home insurance will not change, but the bottom line for business insurance is now becoming unsustainable.

[turbguy + 1,545]

4 minutes ago, Ecocharger said:

The basic laws for Home insurance will not change, but the bottom line for business insurance is now becoming unsustainable.

...and that statement contributes to the bottom line for HOMEOWNERS insurance becoming unsustainable via some obscure avenue?

Edited September 5, 2023 by turbguy

[notsonice + 1,255]

4 minutes ago, Ecocharger said:

The basic laws for Home insurance will not change, but the bottom line for business insurance is now becoming unsustainable.

that is a load of bs................do you have any business insurance policies??????

Liability is a must.....and the rate per million dollars a year in sales is running at around $400 to $700 a year regardless of were you are in the states

 

you see business rarely have liability claims......very rare...I have had one in 25 years (was for around $10,000) Insurance covered it without affecting my rates and said it was a trivial claim not worth fighting...........

 

if you cannot afford $400 to $700 per million dollar in sales you are doing something wrong

 

are you speaking from experience or out of your rear end as usual??????????

[notsonice + 1,255]

58 minutes ago, Ecocharger said:

In case of catastrophic losses, it is vital for businesses to have business insurance, Without it, they cannot operate and will fold and find a better state which has real property laws.

It should not be necessary for an economist to point out these basic facts to non-economists, but....

In case of catastrophic losses, it is vital for businesses to have business insurance????

you obviously do not own a business that has inventory.........

 

you throw out the general term business insurance....I can think of 4 different insurances one would consider when in business

Liability....a must and very cheap...you need it for product or service related liability claims

Inventory....very expensive

Workmans comp...a must and required by law in every state

and Building/Renters insurance (if you own your own building....you usually keep it in a separate holding company and your operating business leases it from your holding company.......)_.  A must as your building insurance has rolled into it liability insurance for building related liability claims

Catastrophic is carried for the building......inventory is a whole different animal.......Building and homeowners insurance have similar rates

$3000 to $5000 per million dollars of actual building value (land is always excluded)

IE the business that might carry full inventory insurance are typically new car dealers..............most others do not as inventory insurance can cost up to 2 percent of you typical housed inventory ie up to 20,000 a year for each Million in inventory on hand......You need to be a high turnover business to carry full inventory insurance

 

if you have noticed mom and pop new car dealers are gone....mega dealers with multiple lots are the rule today.......

most are self insured.....

You can bet Target is self insured for inventory..........except for liability ...which each store having a policy.... as many of Targets stores are leased buildings and when you lease your lease agreement always requires you to carry liability insurance....to protect mainly the landlord (a named insured which is standard on a policy and costs nothing more to add a named insured)

so is it vital to have catastrophic inventory  insurance for a business......the hard answer is no and most do not have it and if they do they will have a very high deductible.....in the 10,000's to 100,000's which preclude small petty theft claims

 

Business insurance in California.....depends on the zip and what type....overall the liability (the must have insurance is cheap) and is not driving companies out of California

Edited September 5, 2023 by notsonice

[turbguy + 1,545]

What I have been implying is one of the first palpable measures of rapid climate change would be rapidly increased payable claims from property insurance companies.

...and that is demonstrably occurring via increased premiums (or even non-availability from major insurance providers) in Florida (and California), to the extent that the GOVERNMENT must step in, and provide back-up (insurer of last resort) for state residents.

To the extent that Auto Insurance, and even Business Insurance, premiums are gonna take a hit if Florida says so, even without increased "theft".

 

 

[turbguy + 1,545]

BTW, establishing an "insurer of last resort" ain't really a bad thing.

The Feds do that with Flood Insurance.

In the State's case(s), they don't have to make a profit.

They just have to liquidate (which includes any supportable overheads).

 

 

Edited September 5, 2023 by turbguy

[Ecocharger + 1,477]

2 hours ago, notsonice said:

that is a load of bs................do you have any business insurance policies??????

Liability is a must.....and the rate per million dollars a year in sales is running at around $400 to $700 a year regardless of were you are in the states

 

you see business rarely have liability claims......very rare...I have had one in 25 years (was for around $10,000) Insurance covered it without affecting my rates and said it was a trivial claim not worth fighting...........

 

if you cannot afford $400 to $700 per million dollar in sales you are doing something wrong

 

are you speaking from experience or out of your rear end as usual??????????

That is not relevant to the laws of California. Are you sound of mind, old man?

[Ecocharger + 1,477]

1 hour ago, notsonice said:

In case of catastrophic losses, it is vital for businesses to have business insurance????

you obviously do not own a business that has inventory.........

 

you throw out the general term business insurance....I can think of 4 different insurances one would consider when in business

Liability....a must and very cheap...you need it for product or service related liability claims

Inventory....very expensive

Workmans comp...a must and required by law in every state

and Building/Renters insurance (if you own your own building....you usually keep it in a separate holding company and your operating business leases it from your holding company.......)_.  A must as your building insurance has rolled into it liability insurance for building related liability claims

Catastrophic is carried for the building......inventory is a whole different animal.......Building and homeowners insurance have similar rates

$3000 to $5000 per million dollars of actual building value (land is always excluded)

IE the business that might carry full inventory insurance are typically new car dealers..............most others do not as inventory insurance can cost up to 2 percent of you typical housed inventory ie up to 20,000 a year for each Million in inventory on hand......You need to be a high turnover business to carry full inventory insurance

 

if you have noticed mom and pop new car dealers are gone....mega dealers with multiple lots are the rule today.......

most are self insured.....

You can bet Target is self insured for inventory..........except for liability ...which each store having a policy.... as many of Targets stores are leased buildings and when you lease your lease agreement always requires you to carry liability insurance....to protect mainly the landlord (a named insured which is standard on a policy and costs nothing more to add a named insured)

so is it vital to have catastrophic inventory  insurance for a business......the hard answer is no and most do not have it and if they do they will have a very high deductible.....in the 10,000's to 100,000's which preclude small petty theft claims

 

Business insurance in California.....depends on the zip and what type....overall the liability (the must have insurance is cheap) and is not driving companies out of California

Just use your mind and read this, how does a small business person qualify for business insurance in this case.

"Sumanjit Sahota owns a Natomas store and says her regulars are now shoplifting.

"They aren't afraid of the law," she said."

 

"Earlier this month, the California Senate passed Bill 553 , legislation that would discourage retail store employees from confronting shoplifters. The legislation — passed weeks after a Home Depot security guard was shot and killed during a Pleasanton, California, robbery — is designed to protect employees, supporters say, by forbidding employers from instructing employees to confront shoplifters."

[Eyes Wide Open + 3,555]

1 minute ago, Ecocharger said:

That is not relevant to the laws of California. Are you sound of mind, old man?

Turbguy is having a few Biden speedbumps..disturbances...hiccups as of late. They say perception is eveything what you don't know won't hurt you?

[TailingsPond + 1,009]

2 hours ago, Ecocharger said:

 

"Sumanjit Sahota owns a Natomas store and says her regulars are now shoplifting.

 

Consider that Sumanjit Sahota is the reason the business is failing.  She has the right to refuse them service.

[Ecocharger + 1,477]

18 minutes ago, TailingsPond said:

Consider that Sumanjit Sahota is the reason the business is failing.  She has the right to refuse them service.

Are you sure that you and your pals are not all encountering that inevitable fading of the brain which awaits us at the end of the road?

[Rob Plant + 2,756]

14 hours ago, Ecocharger said:

So protecting personal property is illegal in your profound deliberation?

I guess what TailingsPond is saying is that any Western police force will discourage civilians to tackle burglars directly and they should report the crime so the relevant law enforcement to attend the crime scene. Many vigilantes are wounded or killed each year over what is either a petty domestic or a very small amount of money (wallet theft). Its not worth risking your life over is it?

[Rob Plant + 2,756]

14 hours ago, notsonice said:

now what is the number one reason property insurance in Florida is through the roof...is it climate change related Hurricanes and Tropical storms or theft????????

Yep that just about sums it up!

[turbguy + 1,545]

,,,then, reflect on THIS!  From, Zillow.

https://zillow.mediaroom.com/2023-09-05-More-than-80-of-home-shoppers-consider-climate-risks-when-looking-for-a-new-home

More than 80% of home shoppers consider climate risks when looking for a new home.

 

[Ecocharger + 1,477]

6 hours ago, Rob Plant said:

I guess what TailingsPond is saying is that any Western police force will discourage civilians to tackle burglars directly and they should report the crime so the relevant law enforcement to attend the crime scene. Many vigilantes are wounded or killed each year over what is either a petty domestic or a very small amount of money (wallet theft). Its not worth risking your life over is it?

The recovery rate by waiting and phoning police is not encouraging. That is why stores hire security officers.

[Ecocharger + 1,477]

6 hours ago, Rob Plant said:

Yep that just about sums it up!

The issue was not property insurance but business insurance. Without business insurance, store front businesses will be forced to terminate.

[Jay McKinsey + 1,490]

Coal use in the US reached new low in Q2:

Solar + Wind produced 173K megawatt hours outperforming coal which produced 141K megawatt hours.

Edited September 6, 2023 by Jay McKinsey

[turbguy + 1,545]

4 hours ago, Ecocharger said:

The issue was not property insurance but business insurance. Without business insurance, store front businesses will be forced to terminate.

No.

The issue was Homeowners Insurance.

You know, the stuff owners of residences purchase.

The premiums of which are so high, or coverage is so rare, that THE GOVERNMENT must step in, with their own rules and strings attached.

Edited September 6, 2023 by turbguy

[Ecocharger + 1,477]

3 hours ago, Jay McKinsey said:

Coal use in the US reached new low in Q2:

Solar + Wind produced 173K megawatt hours outperforming coal which produced 141K megawatt hours.

World wide Coal is all-time high demand.

[Ecocharger + 1,477]

35 minutes ago, turbguy said:

No.

The issue was Homeowners Insurance.

You know, the stuff owners of residences purchase.

The premiums of which are so high, or coverage is so rare, that THE GOVERNMENT must step in, with their own rules and strings attached.

That was not the issue, it was California business insurance becoming unavailable due to the liberal deadheads running the state and changing the laws to make it illegal to stop burglary.

[TailingsPond + 1,009]

1 hour ago, Ecocharger said:

That was not the issue, it was California business insurance becoming unavailable due to the liberal deadheads running the state and changing the laws to make it illegal to stop burglary.

When will you accept that businesses do not insure themselves against theft under $900?

[Ecocharger + 1,477]

1 hour ago, TailingsPond said:

When will you accept that businesses do not insure themselves against theft under $900?

No, losses due to theft are included in the totals used for determining claims for business gains/losses which are insurable.

[TailingsPond + 1,009]

18 minutes ago, Ecocharger said:

No, losses due to theft are included in the totals used for determining claims for business gains/losses which are insurable.

You probably pay for insurance on your credit card debt and buy extended warranties on small appliances. 

Risk : reward.  If you insure against all risk you will lose. Only lawyers, banks, and insurance companies will make money.

Edited September 7, 2023 by TailingsPond

[turbguy + 1,545]

4 hours ago, Ecocharger said:

That was not the issue, it was California business insurance becoming unavailable due to the liberal deadheads running the state and changing the laws to make it illegal to stop burglary.

Let us try this again, shall we?   Here is my ORIGINAL post that appears to have started this response chain, followed by your response, and some further questions from me:

Friday at 10:50 PM

..but there IS smart money in insurance underwriting...

Florida residents have increasingly turned to Citizens Property Insurance Corporation, a public entity established by the Florida government (even more government-controlled than California's) as the state’s so-called “insurer of last resort” for people unable to find affordable rates from private insurers. For more and more residents, though, Citizens is becoming the first and only option, especially for those with coastal homes at particular risk from hurricanes. In 2019, Citizens had about 400,000 home insurance policies on its books; today, it has more than 1.3 million, about twice as many as the state’s next-largest insurer.

If a hurricane(s) destroy(s) too many homes covered by Citizens policies and the "insurer" faces bigger claims than it can afford to pay, the public company won’t go belly up. Instead, such an event will trigger what is known as an "assessment", wherein state law mandates that Citizens imposes fees on private insurance policies across the state in order to cover its payouts. And it’s not just property insurance-policy holders that may have to pull out the checkbook. If you live in Florida and have auto insurance, but can’t afford to own a home, you can still be stuck contributing to funds that pay for homeowners to rebuild after a big storm.

Your response:

 

Monday at 09:19 PM

Private insurance companies have already withdrawn from the California business insurance market, and it has nothing to do with climate events. The new California legal changes making it illegal to interfere with robberies and pillaging while in progress have frightened the insurance business away from California. You could face legal charges for attempting to prevent crimes.

You cannot have your cake and eat it too, if the laws protecting property are vilified and trampled by the state deadhead liberals, the flight of business insurance will force companies to leave California.

California may become an economic dead zone for travelers and those seeking a better life.

Questions:

I provided at least 5 major companies that currently offer Business Insurance in California. As of today, September 6, 2023, no US state provides business insurance as a provider of last resort.  What does any “pullout of Business Insurance" have to do with Homeowners Insurance being pulled out, and requiring back-up by the GOVERNMENT as an insurer of last resort?

I must assume you realize that Homeowners Insurance and Business Insurance are two different products, with two different customer bases,  NO?