US President Trump asks CPA for lists of insurers who were good to clients, and list who were bad in response to California fires
This request from President Trump to the EPA regarding insurers' responses to California’s recent tragic wildfires highlights growing scrutiny over insurance practices during disasters.
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US President Trump asks CPA for lists of insurers who were good to clients, and list who were bad in response to California fires
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I have just met with various Political Representatives of the tragedy that took place in California concerning the burning of thousands of once beautiful homes. It was brought to my attention that the Insurance Companies, in particular, State Farm, have been absolutely horrible to people that have been paying them large Premiums for years, only to find that when tragedy struck, these horrendous Companies were not there to help! I have asked the Administrator of the U.S. Environmental Protection Agency, Lee Zeldin, to give me a list of the Companies who acted swiftly, courageously, and bravely in order to make their clients happy and, even more importantly, in order to fulfill their Legal obligations. Likewise, I have asked to see those Companies that were particularly bad. The names of some surprise me, but in the World in which we live, nothing really surprises me! State Farm, and others, should get their act together, and treat people fairly. The Government is looking into this matter as we speak! President DONALD J. TRUMP
It signals potential regulatory actions that might impact the insurance sector and could affect stock prices in related equities, as companies perceived negatively may face reputational harm and regulatory risks.
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