What I am wondering is if the insurance companies all stuck provisions in the contracts that allow them to drop a specific type coverage at any time they see fit or if they are trying to wiggle out of it hoping its cheaper to fight the suits than pay out. Or did they just drop the fire coverage for customers whose policies were about to renew? Makes me want to call my insurance to see if they can do this to me when the next hurricane comes our way.
Originally, SF was going to leave CA totally. But got some bad PR about it, so they stayed, but excluded fire as a cause of loss. They cannot do this mid term to anyone. But upon renewal, the clause would be added in. I wanna say they began this like 6+ months ago.
Same here, changes to policy language cannot be made midterm, but upon renewal. And if SF left CA, then they would just non-renew policies as they came up and not cancel all of a sudden. Like "tomorrow your cancelled for cause". But what they could also do is issue a 30 day notice of cancellation (IDK if CA law allows this).
Companies in general can issue moratoriums and not write new policies or make any changes for X event, like a hurricane is approaching HI. The carriers aren't dump and know people will buy coverage cause a known risk of loss increases. Make the 1st installment, then cancel.