California Fire - Best of luck to all

[Buzz]

Originally Posted by twobjshelbys

Some of these insurance companies will not have enough reserves to pay out their claims. They will have re-insurance which is insurance insurance companies buy. Warren Buffet's Berkshire Hathaway Reinsurance is one of the largest.

Many companies anticipated the loss risk and stopped selling in CA... The number I saw today was a snapshot in time early this morning but at $20B+. It'll only get bigger...

Hi Tony. As long as they pay out on the policies they've been selling and collecting premiums on for decades on end. If they have to resort to drawing on their own insurance policies in extraordinary circumstances like this disaster, then so be it.

The ongoing trend of insurance company CEO's pulling multi-million dollar salaries and annual profit-based performance bonuses while using every loophole, roadblock and delay tactic at their disposal to reduce "losses" from legitimate payouts is what is wearing thin on people. It's leading to questions about the inherent conflict of interests in profit-driven insurance providers.