@hansaFL@WayneVaughan@DOGE 20-30% seems right for a product based business. This is a service business model which should be a much higher percentage towards labor costs. Google AI states that 15-30% for product and closer to 40-60% for service based business.
@jasminericegirl@Noahpinion The DOI has turned into a consumer protection entity instead of an insurance and actuarial sound institution. Their job is to protect consumers from insurers making excess profits (what they think they are doing) but they are also supposed to protect consumers from (cont)
@KyleSD75 @BarthGrook @Amy31129057@RealJamesWoods State farm is a mutual company, and the state insurance commissioners job is to ensure that the companies are not priced to high for excess profit and not too low for insolvency. The direction of california homeowners was trending for insolvency. So the DOI is not doing its job
@r_wallstreet_@bl0rq@chelsssseeeea Private flood only offers to lower risk business, it's 1/5 the big companies because thr big companies only sell government flood which gouges low risk properties to attempt to subsidize high risk. No insurance company is making money in California homeowners. See DOI lawsuits