As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose
As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose
www.nytimes.com As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose
It’s not just California and Florida now: Insurers are losing money around the country. It means higher rates and, sometimes, cancellation notices.
4 comments
Maybe them scientists knew a thing or two about this climate thing...
Im thinking state governments will just move in and provide an insurance fund.
That's insurance of "last resort", just because a state has an insurance fund, doesn't mean the costs are anything people can pay.
Or that it's financially viable. A fire in the wrong place will wipe out the one in California, and force the state to force all the for-profit insurers to kick in money to rescue it, which will in turn result in sharply higher rates for everybody.