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One of the jobs that sounds absolutely mind-numbingly dull to this writer is that of an actuary. Math was never her strong suit, and actuaries use math, statistics, and economic theory to analyze, assess, and manage risk. Like with insurance. 

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Insurance is predicated on paying into a system to protect against catastrophic and often unforeseen disasters, and actuaries help calculate the risk of those disasters happening.

Like wildfires.

In California, wildfires have been a problem for a while and it comes down to terrible forestry management and water conservation policies enacted by the Democrat supermajority that’s run the state for years. So actuaries look at that risk, realize the money collected by insurance companies is not enough to cover the potential payouts in the event of a massive wildfire, and adjust accordingly.

Last year State Farm Insurance requested the state of California approve significant rate hikes for homeowners, renters, and condos. That approval is still pending, but State Farm could not risk the financial burden and dropped a lot of policies in the state.

The entire post reads:

The affected homeowners would then likely have to rely on the state-run FAIR Plan, an expensive last-resort insurance program. But the FAIR Plan reportedly only had a surplus of $200 million as of April 2024 and was likely to become insolvent if a catastrophic event occurred.

Governor Newsom goes around posturing about politics instead of trying to solve urgent problems. Our state government takes billions of dollars from hard-working Californians and provides barely anything in return. An unconscionable failure.

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And just so we’re clear: it’s bad when State Farm can’t cover its financial obligations (because California law exacerbates the severity of wildfires), but it’s no big deal when the state’s FAIR Plan can’t cover its obligations.

This was all predictable. And largely preventable.

They may not be able to stop the fires, but by clearing brush and storing storm water, they could have made containing and extinguishing the fires easier.

So it becomes a vicious circle.

Thanks, Gavin and the Democrats! Bang up job!

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That’s not how insurance works.

Or maybe the state should enact policies that decrease risk so rates don’t have to be so high.

Hey, Newsom’s new $9 million mansion ain’t gonna pay for itself, and flights to Ghana are expensive.

Maybe LA turning into a pile of ash will help them wake up.

Sad it had to come to this.

Progressives have no idea how the real world works.

None whatsoever.

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Friendly reminder that Kamala Harris wanted to do this, on a national level, for food.

And that understanding shift was by design.

This is solid advice.