20th Century Ends Policies

* Re “20th Century Insurance to End Quake Policies,” June 10:

The revelation that Insurance Commissioner John Garamendi is allowing 20th Century Insurance to phase out its homeowner coverage reinforces the realization that his performance as commissioner was just as disastrous as that of his predecessor. When will we have an official who will protect the insured public?

I have been insured by this company for years and have never filed a claim, nor have many insured, I am sure. Therefore, we are investors in 20th Century without ever receiving any benefits except the assurance that we are protected against catastrophe. Therefore, we who have never received damages are paying for those who have. Paying off the earthquake claims did not bankrupt the company, it merely took a huge chunk out of their emergency fund, which is being replenished every year or so by their insured clients. Of course, we knew that the rates would be increased but the knowledge that Garamendi was going to allow them to increase them three times over is mind-blowing.

SADI HAYASHI

Van Nuys

* It didn’t surprise me that 20th Century Insurance is getting out of homeowner and earthquake insurance because of excessive loss due to the earthquake.

While the January earthquake was the biggest financial disaster to hit the United States, I feel it allowed for the largest amount of insurance fraud to hit as well. I know that many of those insured have taken advantage of the “system.” People have been given money to replace carpet, floors, furniture, appliances, etc. Some of these items were still usable and were not replaced by those insured people, yet they still took the money. They’re taking expensive vacations, adding to their savings, etc. It’s simply disgusting and unfair to those who were honest enough to not take the money offered.

If 20th Century had policies that required receipts from their clients to prove they replaced those lost and ruined items, perhaps the loss to 20th Century would have been millions of dollars less. The rest of us wouldn’t have to see our rates go up 17% and face the loss of insurance coverage entirely!

JAMES MODENA

Ontario