This is such a sad, sad situation. How much in losses will the insurance companies take?
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It fu--ing burns down every year. Why are we still insuring it? Also a big chunk of our potential liability will be re-insured anyway I bet.
Hate to see it.
Although Allstate had stopped taking new applications in certian states. They still hold huge books in multiple states like California. They did not do a massing non renwewal campaign like several other companys who stopped apps and non renewed entire states. In this case Allstate is not the evil empire.
Yeah, insurance companies having to pay out claims is the real tragedy here.
How will it affect dividends!!!
California fires going to cost me my job in North Carolina yo.
- How much will Allstate end up paying out?
- What kind of dent will that put in the profit margin/stock price/executive bonuses?
- What is the commensurate number of layoffs we'll see in 3Q that will negate the impact to #2?
Tommy Boy will still get a hefty boost in his bonus. Time for a new yacht and new hairpiece.
Seems like it’ll be in the $15B range - have seen some estimates a bit lower and some a bit higher. Total economic loss is likely going to be more like $150B and will take years to get back to normal (if ever)