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25.02.26 - 18:51
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One In Five California Home Sales Canceled Due To Unaffordable Insurance (ZeroHedge)
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One In Five California Home Sales Canceled Due To Unaffordable Insurance
Authored by Mike Shedlock via MishTalk.com,
Ponder a $44,000 insurance bill. This does not count as inflation in the CPI.
Dysfunction in California's Insurance Market
The Wall Street Journal reports A $44,000 Bill Shows the Dysfunction in California's Home-Insurance Market
Glenn and Lorraine Crawford paid about $500 a month to insure their home in Agoura Hills northwest of Los Angeles when they bought it in 2012.
The Crawfords say they have little alternative but to pay the bill that arrived last month, which, at more than $44,000 a year, is almost as much as their mortgage bill. The only other insurer willing to cover their home, Lloyd's of London, quoted them $80,000 a year.
More than a year after infernos tore through Los Angeles County, millions of Californians like the Crawfords are suffering through a home-insurance crisis that has rolled on for years with eye-watering rate increases, canceled policies and rejec...
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23.10.25 - 11:12
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Lloyds profits plunge 36% as it feels impact of UK car finance scandal (The Guardian)
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Bank's drop in quarterly earnings comes after it put aside further £800m to cover expected wave of driver claimsLloyds Banking Group profits have been sent plunging by more than a third by the car loans commission scandal, as the lender steels itself for a surge in compensation payouts to drivers.The high street bank took the 36% hit in the third quarter after putting aside a further £800m to cover the prospective costs of a redress scheme proposed by the Financial Conduct Authority (FCA). Continue reading......
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