Former -Ylli ‘Million Dollar List’ and Los Angeles real estate agent Josh Altman offers an update in the efforts of recovery and reconstruction of wild fire, and President Donald Trump’s views visit the catastrophe pages.
An executive for the insurance giant State Farm was fired this week after it was recorded in a secret video making comments about the increase in the insurer’s premium in response to the fires of Southern California.
Haden Kirkpatrick, who worked as Vice President of the Farm state for innovation and venture capital, was surprisingly recorded in a video published by O’Kefe Media Group. Los Angeles Times reported that he claims he had been fired for registration.
“Our people look at this and say, — we have perhaps $ 5 billion that we are short if something happens. “We will go to the insurance department and say, ‘We’re overvalued here, you have to let us catch our [rates]. ‘… he means’ nah’. And we will say, ‘okay, then we will cancel these policies,’ “Kirkpatrick said.
He also said that “there should never be houses built in the first place” in areas like Palisades Paaciness due to the risk of fire, saying that residents want “natural areas around them for the ego”, but that the area is a “desert F-Ing, and thus dries and is a Tinderbox.
State -owned farm asks California to approve increase rates after wild fire
An executive of the state farm was fired for the comments he made about raising norms in a secret registration. (Axelle/Bauer-Griffin/GC Images/Getty Images)
Kirkpatrick told Times that he was fired by the company for remarks he explained that they were registered in a January date that he believes it was a composition, but otherwise refused to comment in the outlet.
State Farm told Fox Business, “Any characterization of the communication of the state farm General regarding our norm request as ‘manipulating’ the norm or public process is false. temporary temporary temporary temporary.
“As we have publicly shared about his comments:” These statements are inaccurate and in no way represent the views of the state farm. They do not reflect our position regarding the victims of this tragedy, the commitment we have demonstrated to the people of California, or our employment practices throughout the company, “” The statement continued.
The rate of American insurance is growing and lawsuits play an important role
Farm State says its estimated losses from fire fires would be about $ 7.6 billion. (Frederic J. Brown / AFP through / Getty Images)
At the beginning of February, Farm State demanded an increase in emergency rates that would be on average 22% for California homeowners’ insurance policies due to fires, saying it had paid over $ 1 billion for customers and “eventually would pay more significantly, as these fires will be the most costly disasters in the history of the state.”
The insurance company noted that over the past nine years, General Farm State has paid $ 1.26 for every $ 1 in the premium it has collected – resulting in more than $ 5 billion in cumulative signature loss. She estimated that her direct losses from the fires of the Los Angeles area are about $ 7.6 billion, including reported and non -reported demands, and has paid $ 1.75 billion for $ 9,500 since February 25th.
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California Insurance Commissioner Ricardo Lara met with the State Farm on February 26 after initially denialing the demand for increased rate to allow the insurer to explain which actions he has taken to improve his financial situation.
State Farm said that after the meeting “took the opportunity to repeat the urgency with Commissioner Lara needed to approve the temporary request of General Farm of the State so that General Farm General can continue to help California clients”.