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Started By
Message
UPC insurance is leaving LA
Posted on 8/25/22 at 11:35 am
Posted on 8/25/22 at 11:35 am
The fun is continuing. They leaving FL too.
22
Posted on 8/25/22 at 11:36 am to Chad504boy
How many does that make this year leaving the market? I know there has already been a handful that went insolvent.
Posted on 8/25/22 at 11:40 am to Chad504boy
When?
Link?
Link?
Posted on 8/25/22 at 11:40 am to Chad504boy
Does this imply that current policies be cancelled?
Posted on 8/25/22 at 11:41 am to Chad504boy
I have UPC. What's the date that my policy will be canceled? My policy is paid up till end of November.
Posted on 8/25/22 at 11:43 am to doublecutter
The foreclosures that are coming to Louisiana are going to be fricking massive thanks to FEMA 2.0 and the Florida P&C casualty debacle.
This post was edited on 8/25/22 at 11:44 am
Posted on 8/25/22 at 11:45 am to Chad504boy
So rake in a few more months of premiums, then as soon as it looks like a storm may hit the Caribbean, it's time to bounce. Sounds like a solid business plan
Edit: because I'm a dumbass
Edit: because I'm a dumbass
This post was edited on 8/25/22 at 12:53 pm
Posted on 8/25/22 at 11:45 am to Chad504boy
They are doing the same thing in Texas as well. Got a notification that our insurance will not be renewed after the end date.
Posted on 8/25/22 at 11:51 am to lsugolfredman
Your policy will run course to expiration. Not sure of dates they will be starting the non renewing yet.
Posted on 8/25/22 at 11:58 am to Weekend Warrior79
quote:
So rake in a few more months of deductibles
do what? how does an insurance company rake in a deductible?
This post was edited on 8/25/22 at 12:04 pm
Posted on 8/25/22 at 11:59 am to lsugolfredman
My understanding is no cancellations
Just no new or renewal biz
Just no new or renewal biz
Posted on 8/25/22 at 12:01 pm to Chad504boy
Seems like everyone below I-10 is gonna end up with LA Citizens eventually.
Posted on 8/25/22 at 12:01 pm to Broyota2
quote:i think this makes #8 or #9 since Ida
How many does that make this year leaving the market? I know there has already been a handful that went insolvent.
Also UPC should probably update their website. I don’t think “Count on us at your time of greatest need” really applies anymore.
Posted on 8/25/22 at 12:03 pm to Chad504boy
I hope they are not allowed back in when the market is attractive again. They were one of the worst for claims.
Posted on 8/25/22 at 12:03 pm to Chad504boy
Get. Out. Now.
Posted on 8/25/22 at 12:03 pm to SlidellCajun
quote:
My understanding is no cancellations Just no new or renewal biz
This is breaking newz
Posted on 8/25/22 at 12:04 pm to fallguy_1978
quote:
Seems like everyone below I-10 is gonna end up with LA Citizens eventually.
And when a big storm hits the state won't even have CLOSE to the amount they will need to pay out claims.
Posted on 8/25/22 at 12:10 pm to Tigerpaw123
quote:
do what? how does an insurance company rake in a deductible?
I assume he meant premiums & not deductibles.
Posted on 8/25/22 at 12:14 pm to fallguy_1978
How many people have enough cash to self insure the roof? That’s what the industry is going to. Homeowner pays out of pocket for a new roof and a few others things before even thinking about calling the insurance company.
The next moderate insurance claim event is going to torpedo home values.
The next moderate insurance claim event is going to torpedo home values.
Posted on 8/25/22 at 12:15 pm to vistajay
quote:
I hope they are not allowed back in when the market is attractive again. They were one of the worst for claims.
We bought our first house right after Katrina in the BR metro and even most of the big players weren't writing homeowners back then. We had to go through a broker and ended up with some small company out of Florida.
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