Texas faces potential $4.6 billion in economic losses due to Hurricane Beryl
Texas faces potential $4.6 billion in economic losses due to Hurricane Beryl
by zsreport
Texas faces potential $4.6 billion in economic losses due to Hurricane Beryl
Texas faces potential $4.6 billion in economic losses due to Hurricane Beryl
by zsreport
2 comments
Is this the actual cost or the corrupt insurance cost?
What am I talking about? Simple, insurance in the US is screwing Americans. Consider healthcare, we know for decades Americans have spent 3-4 times what the same things cost citizens of other developed/rich nations.
Well now the property and casualty business is doing the same. I just went through a condo building claim impacting 7 identical units, with more or less identical damage. Some units cost three times what others cost to repair. The insurance company paid all without question. The difference in the price was whether the contractor knew it was an insurance claim or not.
Insurance companies goal is to keep a percentage of the premiums as profit. The higher the premiums the more money this percentage is. The more you pay out the more the states allow you to charge in premiums. The more you try to keep pay outs down the more trouble you have with claims and the less the states end up allowing you to charge in premiums.
Repairs count towards GDP so it could be spun as a growth catalyst by brain rot capitalists.