Sunday, January 21, 2018

An Amador Mutual Fire Insurance Company?

Most of us have trouble obtaining homeowners insurance, and those of us who do, pay exorbitant rates. Perhaps we could organize our own insurance company. It’s the American way, which I not only would like to preserve, but also enhance, to solve our own problems and not rely on others. During a brief discussion at a recent Up Country Council meeting I discovered that others had the same thought as I did, a locally-owned mutual insurance company.

Of course, our local risks would have to be mitigated through risk-sharing reinsurance. Since this is what all the insurers do, it seems quite possible. But I spoke to one insurance professional who felt it wasn’t likely due to lack of capital and probable company size. I would like to get more expertise and opinion.

Can we talk to our friends and neighbors about this?  Right now we are all suffering as isolated households against powerful interests. Working together we have vastly more strength.  Could we band together enough to have an open, public discussion meeting with several insurance professionals and perhaps insurance commissioners about this possibility?
Whose hands is our future in?


Copyright 2018, Mark L. Bennett 

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