Climate change means higher insurance premiums

The insurance industry has long relied on data and actuarial tables that quantify risk and determine policyholder costs. That data has largely been thrown out the window, KTLA consumer reporter David Lazarus says. Aug. 20, 2023.

KTLA 5 News - Keeping Southern Californians informed since 1947.

[bikinglikebecker]

Meanwhile taxpayers are paying to fight the fires to protect these houses while the Insurance Companies PROFIT from it!!!

[maxmilli_EsLos]

And Gas is going higher cuz of Maui now too right 🙄🙄

[LpCh]

If you believe in this climate change story, I have some beachfront property in Arizona to sell you.

[archiecook]

Please tell me we're are the receipts for all the bs

[hbgriss]

Of course. Ya know because have always paid and had 0 claims. Lets raise our rates so they can buy bentlys .

[tommorningstar]

Anybody who has studied risk management, loss control, underwrting and rating gets it that there are going to be statistical outliers. One occurrence does not a new statstical array make. What the heck could I know after only 35 years in this business? Hype is hype, but it is not useable data. Unmolested, the market for contracts of insurance will price the premium properly just like the ancient floor of Lloyd's of London. Regulate it to death and you get a dead market. Of course, the politicians can never be to blame...

[richm]

The state controls what the insurance companies can charge. That is the reason they’re leaving.

[nobullman]

" everything changes, nothing look the same thru the eyes of Love.standing in the light of a bright new sun, when u love ❤️ sum1 "

[JulioChavez-ed]

You can sue Taco Bell for their over exaggeration of their Taco Supreme but can't do the same for Jake from State Farm?

[Bert]

Lol insurance companies have always been looking for ways to raise the rates since their inception.

[Xavieritis]

Anything our overloads can overcharge us for

[killergf]

I'm still waiting for a plan that covers damages to roofs due to Santa's sleigh.

[BradKwfc]

The planet is mad we burned things... and so are the insurance companies😅

[richyp]

There's a reason so many people are suddenly and unexpectedly dropping like flies. Doctors are baffled but we all know it's climate change and it's terrifying.

[henryflowers]

We need a state run program to be introduced and you will see how quickly these companies find ways to make it more affordable.

[t.s.]

Hurricane and an earthquake? Raise the price and try to deny every claim possible.