Tesla Home Owner's Insurance

Discussion in 'General' started by 101101, Feb 14, 2020 at 8:57 PM.

  1. 101101

    101101 Active Member

    Tesla has started insuring its cars. It has indicated it is going to get into HVAC. I believe it is sorely needed for it to get into home owner's insurance because then we can be much more sure of getting a divested home insurance option and the savings of not having pay for constantly having to socialize endless fossil fuel losses. This only makes sense when Tesla is also doing solar roofs and people need insurance properly adjusted for solar panels etc.

    California Insurance Commissioner Dave Jones for the period or 2015-2017 under his CA Carbon Initiative caused all insurance companies doing business in CA to disclose their carbon exposure in terms of investment in each carbon area oil, gas and coal and whether they would agree to fully divest thermal coal. Red state governors tried to say this was criminal and unconstitutional, but it was criminal for them to even suggest that. The public has a right not to be a party to perpetuating the on-going crime against humanity known as the fossil fuel industry.

    Liberty Mutual is an example of a typical miscreant CA insurer. Liberty Mutual which has huge investments in oil, gas and coal (look it up on Jone's list on the CA.gov site) which refused to divest coal when asked by Jones, recently raised home owners insurance rates in the state by 40% because it idiotically both insured PG&E and invested in it. Seems like an obvious criminal action, where the hell is he oversight? It wasn't alone in raising the rates the rest of the industry colluded to raise the rates on home owners in the state. Did it drop PG&E? No. Did it raise PG&E's rates? Probably not, did it raise the rates it charges he offender industry fossil fuels? Probably not- this is an example of socializing the endless losses of these fossil fuel rent seekers. Looked but couldn't find a divested insurer that had reasonable rates or coverage in home owners insurance. I found one family of companies in home owners insurance but it had bad customer face service ratings and bad values for coverage and it had only quietly divested, but again its offerings were weak, its service sub par and it had stupid gimmicks like down payments and did things for home owners insurance like being unwilling to prorate the year or fold into mortgage monthly escrow billing in first year- really just terrible.

    This reminds me of a certain larger county public employee pension fund in the state I have some direct knowledge of. In the crash of 08 (really based on collapsing fossil fuel derivatives, collapsing not over loans to the poor but insuring bad debts on obviously stranded fossil fuel assets- almost all derivatives are in fossil fuels) it lost 1/3 of its value on fossil fuels. In the interim it has doubled down on fossil fuels so that the full exposure has to be over 50% and tried to grant its execs 600% pay increases while they doubling he forced contributions of employees and minimizing the employer contribution and is essentially holding hostage people's retirements while cushioning the fall of the fossil fuel larger private owners with these workers retirements. They even acted like the pension was theirs and it would be up to them if the pensioners ever were able to retire- that they could just steal this money if they felt like it.

    Their fund manager even said that he had taken 1.7 billion of the fund's money and invested it in foreign derivatives through the Cayman's Maples law firm- a process which is idiotically blind except to the purchasers at the time of purchase and this is because its insurance of bad debt on stranded fossil fuels! The public can't know about how much is getting screwed to prop up fossil fuels endlessly. Its what they mean when they say too big to fail- is fossil fuels they are talking about, yet we can and must replace them in a heart beat and make the underlying rent seekers absorb their full deserved losses.

    This type of conflicts is not new but we have to do something about it. Going back to I think Taft there was a fight over who would own and control public pension monies. There was a conflict where Unions noticed that pensions funds were being used to prop up firms that were undermining the unions and the employee's jobs. You'll also notices that going back to Taft some in the Senate said if employers couldn't manipulate these funds and (later Wall St on behalf of fossil fuels) then workers would end up owning all the capital. I find that hilarious, it wasn't about the struggle to keep corrupted broken in bed with managements and fossil fuels type unions from ruining mission driven firms like Tesla, no they didn't like that because that meant moronic inbred economic royalty would be ejected from rent seeking- you can see the rent seeking mentality. Look what that pension manager did he intermingled the retirements of those public employees with laundered money to protect the laundered money and probably got a kick back for doing it- how would we know otherwise?

    Recently Chris Mathews was hysterically whining that if Sanders got in he Mathew's was liable to be shot? What the hell was he talking about? Sanders did say fossil fuels were a criminal enterprise. I think we should go further and say fossil fuels are the greatest criminal conspiracy the world has ever known because we should have been done with them around 1950 when the first fission reactors came on line. We could have come to thorium passive safety breeder designs long ago- they wouldn't have been good for creating weapons wouldn't melt down and would have rendered the waste stock pile inert- we can still go this way. We had free energy back then but wanted to support criminal rent seeking instead. So what is Matthews so afraid of- we know he's a paid liar and people are fed up with that but what is it?

    Well I can see some writing on the wall. The Tax haven's are going to get cracked wide open and there isn't going to be any amnesty. This is the first step in destroying fossil fuels. What happened with David Cameron and Jeffrey Epstein is the beginning. The US should roll up and really just confiscated and burn all that cash in those havens. Keep some if it needs to un-mingle a pension fund that has been held hostage. But its time to clean up the financial world. Fossil fuel derivatives are utter garbage that should not exist- come on having people's retirements insuring bad debt on permanently stranded fossil fuel junk assets. The fossil fuel industry can self-insure but the truth is it can't even exist without subsidies because it has never really been profitable but has always been in a constant bailout pit with endless unnecessary wars and other forms of bailout. The ratio of the amount of resource you must dump in for what you get out has always been by its mere physics super lean and always requiring more and more to prevent collapse while generating economic scarcity/austerity in its wake and the political equivalent of cancer.

    Recently a big EU insurance firm was blowing it own horn for divesting thermal coal. But when its CEO was asked whether it would divest gas and coal it so no because that would stop the economy. What? That implies these two segments couldn't self-insure because they aren't economically viable enough to do so. It mean these entities are being subsidized through insurance rate payer premiums which is beyond outrageous in criminal collusion.
     

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