Re: California insurance cartel?

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Article #12312

#12312

From: Howard G. Page
Date: Thu, 18 May 1995 00:00

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martins@loc201.tandem.com (shen_martin) writes:

>Hello,

>I've not filed a single claim since I moved into this home 4 years ago,
>but my premium has gone up almost 40% for the last 3 years. And, I just
>got the premium notice for the next year which has another 25% hike.
>Well, I started shopping around for a new home insurance policy. 
>Guess what? All major California insurance companies stopped writing 
>new policy. Does that mean I have to accept the 25% rate hike for the next 
>year w/o any other recourse? 

>This smells like CARTEL to me.
> .
> .

The problem is that CA requires insurance companies to offer earthquake
insurance and the insurance companies are having trouble managing this
exposure (so they say) -- who can predict the timing and size of the
next earthquake?

Also, I understand that they lost money big time in Northridge.

Finally, correct me if I am wrong, but insurance companys are not covered
by the Sherman Anti-trust Act.

Howard

-- 
Howard G. Page       hpage@netcom.com             415-548-1902

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From: hpage@netcom.com (Howard G. Page)
Subject: Re: California insurance cartel?
Date: 1995/05/18
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