Letters to the Editor: Insurance giants profit off of California’s drivers while starving our property market
-
Click here to listen to this article - Share via
See more from the L.A. Times in Google Search. Set us as preferred
To the editor: The coverage of the property insurance crisis highlights a devastating reality: National insurance giants are abandoning California households (“California’s property insurance deserts are spreading to low-risk fire areas,” Sept. 20). Conveniently, these mega-carriers keep auto and home insurance in separate corporate subsidiaries to pocket auto profits while starving our property market.
If legislators fail to act, voters must use a citizen ballot initiative to create a dynamic “pay-to-play” mandate. With this, the insurance commissioner would be empowered to suspend any insurance group’s license to sell lucrative auto policies for as long as it refuses to write homeowners insurance for properties meeting objective, state-mandated fire protections like fire-resistant roofs, dual-pane windows, mesh vents and brush clearance.
Access to our 27 million drivers and $36-billion auto market is a massive privilege. If insurers want to profit off California drivers, the price of admission must include stabilizing our housing market.
Mark Henderson, Folsom
