It has been well known and well documented that California has been shirking it's forest management and water resource management for quite some time and on top of that then allowed the few insurers to leave residents without adequate or no insurance coverage going into the crisis. The incompetence knows no bounds.........I could be wrong I would venture to guess all the 1% wealthy private equity MF"ers that had homes in the area had insurance and are probably getting permits to rebuild with no delays........Just a hunch.
The insurers were wanting to jack up rates because they knew that the risks had been exacerbated by all this mismanagement and didn't want to be caught holding the bag for the states incompetence.
Now don't get me wrong insurance companies have a pretty horrible track records screwing people as well but this issue did not creep up on people. They had huge fires up in Northern California San Francisco area years ago in 2014 and actually passed new water management resource laws and almost none of that was actually put into action even thought he taxpayers voted it in and funded it. Meanwhile Cali continues to burn and now people can't get insurance at any price and the insurance they can get sucks.
In 2014, California voters passed Proposition 1, a bond measure that included
$2.7 billion specifically for water storage projects. The ballot measure was passed to fund water infrastructure, though the allocation was not a direct response to the 2014 fires, but rather addressed statewide water concerns.
Here's a breakdown of the water bond measure:
- Total bond amount: The full bond measure, titled the Water Quality, Supply, and Infrastructure Improvement Act of 2014, authorized the sale of a total of $7.5 billion in general obligation bonds.
- Water storage allocation: The $2.7 billion portion for water storage was designated for the Water Storage Investment Program, intended to fund large-scale projects, including new reservoirs.
- Progress on storage projects: Water storage projects have been slow to get off the ground due to long lead times. As of late 2024, none of the voter-approved projects had been completed, though most of the funding had been earmarked for seven qualifying projects. The Sites Reservoir, one of the major projects, is not expected to be operational until 2033.