Neither New York nor California understand that companies don't sell products at a loss.
cry of the day
My latest news is that AT&T is discontinuing its 5G internet air service in New York due to the new broadband law
A new broadband law goes into effect in New York state this week, requiring internet providers to offer low-income residents access to monthly broadband plans of $15 for 25 Mbps or $20 for 200 Mbps. In response, AT&T has decided to stop offering its 5G home internet in the Empire State and will begin notifying users of the decision starting Wednesday.
“While we are committed to providing reliable and affordable Internet service to customers across the country, New York's broadband law imposes harmful tariff regulations that make it uneconomical for AT&T to invest in and expand our broadband infrastructure in the state,” the company said in a statement statement to CNET.
“Therefore, effective January 15, 2025 We will no longer be able to offer AT&T Internet Air, our fixed wireless Internet service, to our New York customers.”
New York first passed its broadband law in 2021. An appeals court allowed it to move forward last April after legal challenges appeared to thwart it. The U.S. Supreme Court ruled in December that it would not hear challenges to the new law.
Lessons from California and New York
In New York, 5G service is now so affordable that you can no longer get service at all.
Compared to California, where Governor Newsom's policies led to policies being canceled, this is a minor annoyance.
CBS News reports that thousands of Los Angeles homeowners were excluded by their insurers before the Palisades fire
About 1,600 policies in Pacific Palisades were discontinued by State Farm in July, California Department of Insurance spokesman Michael Soller said in an email to CBS MoneyWatch on Thursday. An analysis of insurance data by CBS News San Francisco last year found that State Farm also canceled more than 2,000 policies in two other Los Angeles ZIP codes, including the Brentwood, Calabasas, Hidden Hills and Monte Nido neighborhoods.
State Farm's decision reflects a trend by private insurers, including Allstate and Farmers Insurance, to abandon or stop underwriting California policies and give homeowners the choice of going through the insurer of last resort, the California Fair Access to Insurance Requirements Plan or FAIR, to protect yourself Plan to take out insurance or do without it altogether. The FAIR Plan provides basic fire insurance coverage for properties in high-risk areas that traditional insurance companies do not offer.
It seems to me that State Farm, Allstate and Farmers have done their homework.
California didn't allow State Farm to pay a risk price, so the companies decided not to renew the policies.
Not satisfied with the already catastrophic stupidity, a new regulation dictates that companies should do so
Insurance companies in California are required to offer coverage in wildfire-prone areas.
Insurance companies are required by law to write policies in these areas that are “at least 85% of their national market share.” Coverage will not immediately increase to this threshold. Instead, companies will be required to increase the amount every two years by 5%.
Every insurer in California should leave the state unless they can price based on risk.
Even if insurers stay, be aware that if they underprice fire-prone areas, they will have to pay inflated prices elsewhere.
Related posts
June 17, 2024: Cry of the day: California proposes injunctions to stop thieves
More and more headlines seem like they come from the Babylon Bee. Let's talk about the latest idiocrasy from La-La Land.
January 18th: Nebraska is going up against the EPA, the EV Truck Lobby and California.
California's campaign to force trucking companies to adopt electric trucks will soon fail.
January 12th: Governor Newsom issues an executive order to cut his own bureaucracy
No, that's not a Babylon Bee headline. It's from a Newsom post on X. Grok created the image.
January 8, 2025: Bernie Sanders accidentally tells the truth about devastating fires in California
“Donald Trump needs to treat this like the existential crisis it issays Bernie. I agree, but the crisis is not what Bernie thinks.