Nope! The checkbook goes to the customers in the south with tornados first! If customers aren't taken care of and huge MIP/EIP given, media will pursue. California was just a snack before the meal.
5 replies (most recent on top)
Bonus money is not accurate. It is flexible compensation that is paid out based on year end results that align with company goals.
- Those bonuses are in millions, losses in billions. The bonuses wouldn’t cover the postage on a round of ID cards.
- The CA rate increase is badly needed. Why is nobody talking about how CA regulators want to deny rate increases to insurance companies….but are billing their own Fair Plan losses to the customers of those same insurance companies?
- Insurance companies don’t decide that auto insurance is mandatory or that mortgage lenders require it. And the price isn’t set because of those requirements.
So they just keep raising the cost of insurance so they can pay the bonuses? Most normal businesses would not give the bonus money out so the customer remains satisfied. Then Calif homeowners pay the authorized 20% rate increase after they canceled all those policies. Think about it. That's a good neighbor? Is that reasonable; then expect a bonus? The homeowners don't get a choice to insure or not with a mortgage. Legalized extortion IMO.
Education has failed us and these people deserve bonus money? They all want participation trophies 🏆!
With a 164 Billion no sweat. Looking forward to 7 figure award.