Former ‘Million Dollar Listing’ Star and Los Angeles Real Estate Agent Josh Altman offers an update on wildfire recovery and reconstruction efforts, and previewed the journey on President Donald Trump’s disaster sites.
An executive for insurance legend State This week was removed this week after being recorded on an undercover video, commenting on the premium growth of the insurer in response to the wildfire of the southern California.
Hayden Kirkpatrick, who worked as the Vice President of the State Farm for Innovation and Venture Capital, was recorded on a video published by O’Kif Media Group. Los angeles time He said that he claimed that he was fired on recording.
“Our people look at it and say,” S — We probably liked $ 5 billion that we are less when we are less. ” We will go to the insurance department and say, ‘We are oversized here, you have to let us catch our (rates).’ … he will say ‘Nah’. And we will say, “Okay, then we are going to cancel these policies,” Kirkpatrick said.
He also said that “the risk of fire should be” not houses in the first place “in areas such as Pacific Palisads, saying that residents want” the natural area around them “, but the area is a” F-ING desert, and so it dries up and it is a tinderbox. ,
State Farm asks California to approve the rate hike after a wildfire
The executive of a state farm was fired on the comments about the rate hike on an undercover recording. (Excel/Bauur-Giffin/GC Images/Getty Images)
Kirkpatrick told The Times that he was fired by the company for a comment that he said during a tinder date in January that he believed that there was a setup, but otherwise refused to comment on the outlet.
State Farm told Fox Business, “The State Farm General is wrong as ‘manipulation’ in relation to our rate request in relation to any characterization of communication of communication. This person was never involved or there was no responsibility for business decisions related to the operation of the state form general or its calculation, including anything involved with our pending rates or emergency intermittent requests”
“As we have publicly shared about his comments: ‘These claims are wrong and somehow represent the views of the state farm. They do not reflect our situation about the victims of this tragedy, we have demonstrated the commitment to the people of California, or demonstrated our recruitment practices in the company,”
Americans’ insurance rates are increasing and cases play an important role
The State Farm says its estimated loss from the wildfire will be around $ 7.6 billion. (Frederick J. Brown / AFP via / Getty Images)
In early February, the State Farm requested an increase in an emergency that would be for an average 22% California house owner Insurance policies due to the wildfire, saying that he had paid more than $ 1 billion to customers and “eventually will pay much more, because collectively these fire would be the most expensive disasters in the history of the state farm general.”
The insurance company said that in the last nine years, the State Farm General has paid $ 1.26 for each $ 1 in the premium, resulting in more than $ 5 billion in cumulative underwriting losses. It was estimated that its direct loss Los Angeles Area Wildfier The report and non-reported claims are around $ 7.6 billion, and have paid $ 1.75 billion for 9,500 claims by 25 February.
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California Insurance Commissioner Ricardo Lara met with the State Farm on 26 February, initially after rejecting the rate hike request to allow the insurer to tell what action he has taken to improve his financial situation.
The State Farm said that after the meeting it took an opportunity to repeat with the Commissioner Lara, which is necessary urgency to approve the interim rate request of the State Farm General to continue to help the State Farm General California customers. “
