Oh I'm not saying they didn't make money as a whole......I'm saying they paid out on fire at much higher than expected levels meaning they will outright cancel fire policies or charge much higher premiums for fire coverage. It's a little over 2X in NE Texas so what is it in Cali or Amarillo these days.....Not so fast there. The narative that insurance companies were hemmoraging money is completely false. Insurance companies made record profits in 2023. To the tune of $88 Billion.
The speed that they are raising rates is significantly outpacing losses and they are raking in money, while dropping coverage in record rates. Its an industry that needs some regulation.