@[email protected]M to Climate - truthful information about climate, related activism and [email protected]English • edit-220 days agoAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.comexternal-linkmessage-square4fedilinkarrow-up130arrow-down10file-textcross-posted to: news[email protected]
arrow-up130arrow-down1external-linkAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.com@[email protected]M to Climate - truthful information about climate, related activism and [email protected]English • edit-220 days agomessage-square4fedilinkfile-textcross-posted to: news[email protected]
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minus-square@reddig33link3•19 days agoIm thinking state governments will just move in and provide an insurance fund.
minus-square@[email protected]linkfedilink5•19 days agoThat’s insurance of “last resort”, just because a state has an insurance fund, doesn’t mean the costs are anything people can pay.
minus-square@[email protected]OPMlinkfedilink1•19 days agoOr 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.
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.