Major insurer gives brutal ultimatum to entire state: Let us put up prices by 50 percent or we will leave
California's largest insurer has given the state's government an ultimatum as the cost of providing cover continues to soar
State Farm on Thursday told California's Department of Insurance to let them raise home insurance rates for millions of citizens, or they will ax cover. The move by the insurance giant comes amid a growing insurance crisis in California.
A slew of insurers - including Allstate, Farmers Direct and State Farm in a previous move - have limited cover or stopped doing business entirely in the Golden State. They blame the intensifying risk of climate disasters.
State Farm disclosed it wants to raise prices by 30 percent for homeowners, 36 percent for condo owners, and 52 percent for renters. - 'This has the potential to affect millions of California consumers and the integrity of our residential property insurance market,' insurance commissioner Ricardo Lara said.
The California Department of Insurance had already approved two State Farm requests that saw citizens home insurance rise drastically, including a 6.9 percent hike at the start of last year and a 20 percent rise that began this past March.
'State Farm General’s latest rate filings raise serious questions about its financial condition,' he said of the number one insurance firm in the US. He added how a rate hearing may even necessary.. Only then, he said, would officials make a decision on whether to approve the requests - a process that could end up taking months.
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This post directly related to another State Farm move done just a little over a year ago -- then it was an announcement that they would no longer write any new policies in CA; now, as seen, they intend to jack up the prices for all existing policies -- all of course blamed on the catch-all 'climate-change' lie of the centuries; see State Farm one yr. ago:
5-30-23 Coming For the Land 2030 Plan Stepping it Up: State Farm Ends New Homeowner Insurance In CA - A Major Development Of The 'Geoengineered Destruction Blamed On Climate Change' Agenda 21 Plan
Compare what is going in Florida -- it's not just CA it's a global program - same thing everywhere - land grab accomplished by geoengineered destruction (numerous methods) blamed on climate-change, followed by claim that risk now too great to insure; see: Florida [note the Florida Surfside Condo CONTROLLED-DEMO (see video @ link) is now being used everywhere as the excuse to preemptively - i.e. wherever 'climate-change might strike in the future' - make insurance costs prohibitive]:
5-20-24 Florida Condo Owners Losing Properties Via New Law Requiring Expensive Building Upgrades Resulting From Miami Surfside Condo Implosion-Collapse June 2021 -- 'Very briefly what the article reveals is the diabolical end game now being played out in Florida as the result of the sudden nonsensical collapse of the Miami Surfside Condo building in June 2021. Most will remember the event. Original June 2021 post below with actual video of the collapse showing very clearly the building coming down by means of a very precise controlled demolition i.e. implosion. As a result of that event, fast forward to now May 2024, a new-law essentially driving people off their properties has been put in place.. -- as reported insurers and lenders are backing off [see: CA] because the buildings are now deemed "unsafe'.."
They want it all - this is how they are doing it. Step by methodical step. Note especially last paragraph in above article the statement questioning State Farm's financial condition. Is that a hint that the next thing coming might be insurers beginning to claim bankruptcies of some sort? Wouldn't that be a cui bono pièce de résistance. 2024 the entire world system now in place is completely false built on nothing but lies.
Note on that: Babylon the great is fallen, is fallen [Rev. 18:2]*.
***
Rev. 18:4
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*Revelation 18:8 'Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her'
California's largest insurer has given the state's government an ultimatum as the cost of providing cover continues to soar
State Farm on Thursday told California's Department of Insurance to let them raise home insurance rates for millions of citizens, or they will ax cover. The move by the insurance giant comes amid a growing insurance crisis in California.
A slew of insurers - including Allstate, Farmers Direct and State Farm in a previous move - have limited cover or stopped doing business entirely in the Golden State. They blame the intensifying risk of climate disasters.
State Farm disclosed it wants to raise prices by 30 percent for homeowners, 36 percent for condo owners, and 52 percent for renters. - 'This has the potential to affect millions of California consumers and the integrity of our residential property insurance market,' insurance commissioner Ricardo Lara said.
The California Department of Insurance had already approved two State Farm requests that saw citizens home insurance rise drastically, including a 6.9 percent hike at the start of last year and a 20 percent rise that began this past March.
'State Farm General’s latest rate filings raise serious questions about its financial condition,' he said of the number one insurance firm in the US. He added how a rate hearing may even necessary.. Only then, he said, would officials make a decision on whether to approve the requests - a process that could end up taking months.
__________________________________________________
This post directly related to another State Farm move done just a little over a year ago -- then it was an announcement that they would no longer write any new policies in CA; now, as seen, they intend to jack up the prices for all existing policies -- all of course blamed on the catch-all 'climate-change' lie of the centuries; see State Farm one yr. ago:
5-30-23 Coming For the Land 2030 Plan Stepping it Up: State Farm Ends New Homeowner Insurance In CA - A Major Development Of The 'Geoengineered Destruction Blamed On Climate Change' Agenda 21 Plan
Compare what is going in Florida -- it's not just CA it's a global program - same thing everywhere - land grab accomplished by geoengineered destruction (numerous methods) blamed on climate-change, followed by claim that risk now too great to insure; see: Florida [note the Florida Surfside Condo CONTROLLED-DEMO (see video @ link) is now being used everywhere as the excuse to preemptively - i.e. wherever 'climate-change might strike in the future' - make insurance costs prohibitive]:
5-20-24 Florida Condo Owners Losing Properties Via New Law Requiring Expensive Building Upgrades Resulting From Miami Surfside Condo Implosion-Collapse June 2021 -- 'Very briefly what the article reveals is the diabolical end game now being played out in Florida as the result of the sudden nonsensical collapse of the Miami Surfside Condo building in June 2021. Most will remember the event. Original June 2021 post below with actual video of the collapse showing very clearly the building coming down by means of a very precise controlled demolition i.e. implosion. As a result of that event, fast forward to now May 2024, a new-law essentially driving people off their properties has been put in place.. -- as reported insurers and lenders are backing off [see: CA] because the buildings are now deemed "unsafe'.."
They want it all - this is how they are doing it. Step by methodical step. Note especially last paragraph in above article the statement questioning State Farm's financial condition. Is that a hint that the next thing coming might be insurers beginning to claim bankruptcies of some sort? Wouldn't that be a cui bono pièce de résistance. 2024 the entire world system now in place is completely false built on nothing but lies.
Note on that: Babylon the great is fallen, is fallen [Rev. 18:2]*.
***
Rev. 18:4
----------------------------------------------------------------------------
*Revelation 18:8 'Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her'
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