this post was submitted on 09 Jan 2025
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I'll note that a large chunk of the burned properties depend on the state-run FAIR plan, which provides much weaker coverage (eg: not replacement cost) than private insurers. The FAIR plan also has limited reserves, which it will replenish by issuing an assessment on commercial insurers and their policyholders.

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[–] RedditWanderer 10 points 1 month ago* (last edited 1 month ago)

See also, banks, airlines, pharma and most tech giants.