$458 Billion Needed for LA Fire Insurance Claims; Only $700 Million Available

Originally published at: https://peakprosperity.com/daily-digest/458-billion-needed-for-la-fire-insurance-claims-only-700-million-available/

Los Angeles Fires

The Los Angeles wildfires have now consumed approximately 38,000 acres, causing an estimated $150 billion in damages, which may make it one of the costliest wildfires in U.S. history. Firefighting efforts have reportedly been delayed by bureaucratic processes, as out-of-state firefighting crews must undergo mandatory inspections by Cal Fire in Sacramento before they can assist. Cal Fire has stated that these inspections are necessary to ensure safety and operational standards, though they acknowledge the delays are unfortunate.

Additionally, the Santa Ynez Reservoir, a critical water source for firefighting, has been dry since February 2022, leaving firefighters dependent on limited backup water supplies. The Los Angeles Fire Department has cited a lack of communication with the Department of Water and Power as a contributing factor to this issue. These issues have led to questions about the state’s emergency management strategies.

Compounding frustrations, Jillian Michaels explains that despite the approval of Proposition 1 in 2014, which allocated funds for new reservoirs, none have been completed. The Sacramento Bee reports that environmental regulations and legal challenges have slowed progress on these projects. Michaels also pointed out the state’s decision to donate fire equipment to Ukraine and the governor’s budget cuts to the fire department, which she believes have further strained resources. The Kyiv Independent confirmed the donation as part of international aid efforts. She criticized the allocation of water resources, noting that 80% is directed to Big Agriculture, which she claims contributes minimally to the state’s GDP, suggesting political influences in these decisions.

Economically, California’s home insurance market is reportedly facing a crisis, with potential exposure reaching $458 billion while only $700 million is available in reserves to pay claims. This financial imbalance poses risks to homeowners and the state’s economy, as the insurance system struggles to cope with the increasing frequency and severity of natural disasters like wildfires. Major insurers like State Farm and Allstate have stopped writing new policies in the state, increasing reliance on the financially strained FAIR Plan.

Canadian Politics

A whistleblower has alleged systemic corruption and mismanagement within the Canada Border Services Agency (CBSA), raising concerns about national security. Former CBSA officer Luc Sabourin claimed that over 300,000 travel documents, including 283,000 blank passports, have been stolen and exploited by transnational crime networks. Sabourin’s disclosures suggest that the agency prioritizes quick immigration approvals over thorough investigations, potentially allowing individuals on terror watch lists to enter Canada. The CBSA has responded, asserting that they take such allegations seriously and have mechanisms to investigate them. He calls for independent oversight and whistleblower protection to address these issues and prevent further security threats.

US Politics

Tulsi Gabbard, nominated for Director of National Intelligence, has reportedly shifted her stance to support FISA-702, a statute allowing warrantless searches of American communications. This change is seen as important for her confirmation by the Senate Select Intelligence Committee, which requires support for FISA-702. The statute has been justified by domestic terror threats, though critics argue it facilitates a broader surveillance state. Gabbard has stated that while she has privacy concerns, she believes the program includes necessary reforms to protect citizens’ rights. Gabbard’s past opposition to FISA-702 during her congressional tenure has raised concerns among GOP national security advocates, but her current support appears to align with the committee’s expectations. If confirmed, Gabbard would be responsible for annually certifying the statute for continued intelligence collection.

Sources

California’s Home Insurance Dilemma: $458 Billion Exposure, Only $700 Million in Reserves

There is no money.

Source | Submitted by bcoop

Canadian Border Security in Crisis: Whistleblower Reveals Stolen Passports and Corruption at CBSA

We Are Going to Face Our Worst Nightmare

Source | Submitted by westcoastjan

Tulsi Gabbard Backs FISA-702, Paving Way for DNI Confirmation Amid Deep State Dynamics

“Tulsi Gabbard has assured me in our conversations that she supports Section 702 as recently amended and that she will follow the law and support its reauthorization as DNI,” Cotton said.

Source | Submitted by Doubletap

Los Angeles Wildfires: A $150 Billion Blaze Engulfs 38,000 Acres

Estimated damages now exceed $150 BILLION in the costliest wildfire in US history.

Source

California’s Firefighting Bureaucracy: Out-of-State Crews Face Delays Due to Inspection Protocols

California says if you send us your fire rig, it must first go to Sacramento for an inspection by Cal Fire.

Source

Reservoir Dry Since 2022: Firefighters Left High and Dry in Palisades Blaze

The reservoir has been empty as of February of last year and no one told the fire department?

Source

Jillian Michaels Blasts California’s Leadership Over Fire Mismanagement and Water Woes

It’s absolute madness … In 2014, Californians voted on Proposition 1 to put billions towards building new reservoirs. Not one is complete 10 years later … How many homes need to be lost? … None of this makes any sense. None of it.

Source

In addition to sources submitted by community members, the following were also used in the creation of this report: Cal Fire on X, Los Angeles Fire Department on X, The Sacramento Bee, The Kyiv Independent on X, Vigilant News Network, Insurance Journal, CBSA Official Statement on X, The Intercept, and Tulsi Gabbard on X.

3 Likes

Uhh so many questions…

Why pay insurance when it is glorified scam and pyramid scheme.

This is way beyond perfect storm… 3 bad things causing accident, this is way more.

About canadian border… it is time for Trump to build northern wall. It is leaking badly.

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this fire in los angelos is baby stuff compared to what will happen likely in the next ten years for california… 7.5 earthquake… mass destruction and fires… no insurance coverage… BECAUSE the us dollar will no longer be the reserve currency… cant just print 800 billion dollars for rebuild…
californias worst days still to come.

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The degree of incompetence and corruption that led to this is unbelievable. This has all the hallmarks of a large-scale heist or wealth transfer, and “investors” with checks are already circling, ready to extract deeds from the victims.

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It is obvious the fires were started at the same time from aerial video. This was likely sabotage by foreign invaders as described by Dr Naomi Wolf. The ATF and DOJ already understand the potential risks to California and United States. Unfortunately the Biden Administration encouraged illegals to enter our country. $458 billion is a drop in the bucket given the risks ahead.

I saw one video where allegedly weird lasers came from Area 51 direction. Dont know if that is verified video but readin news, why would any foreign power bother when Sun Zu says just take popcorn and sit at sofa while enemy destroys themselves.

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Or, if you extend the border all the way north then the migrants would have to go through the arctic first! :wink:

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Hearing reports like this make me wonder if the “little people” have just had enough of the elites and their management of things and that this is their way of literally trying to burn it to the ground.

https://x.com/WallStreetApes/status/1878294771354968192

1 Like