LA Fires

[NotAllThere]

indeed

LLoyds have members in syndicates who take the earnings and insure against the loss, if you remember after one of the big storms a load of Lloyds 'Names' lost their shirts (one of the rare times the golden goose has bitten back.

Yes!

It was there at the back of mind. Just checked my Berkshire Hathaways shares, they have indeed fallen in value.

[Paddy]

This is going to trigger a banking crisis. A lot of properties won't be covered and many others will see their insurance company simply default, thus leaving people with a mortgage on a non-existent property which they will default on. Banks were already staggering.

The way most of the LA properties were built using 2"x 4" studding, wooden cladding and Styrofoam insulation would be not be mortgageable in the UK and EU.

[sadkingbilly]

This is going to trigger a banking crisis. A lot of properties won't be covered and many others will see their insurance company simply default, thus leaving people with a mortgage on a non-existent property which they will default on. Banks were already staggering.

https://www.youtube.com/watch?v=X_-q9xeOgG4

[SueEllen]

This is going to trigger a banking crisis. A lot of properties won't be covered and many others will see their insurance company simply default, thus leaving people with a mortgage on a non-existent property which they will default on. Banks were already staggering.

Labour and banking crisis... mmmm...

We are going to need Gordon to save the world!

[vetran]

bring on the Knopfler