silence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · edit-26 months agoAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.comexternal-linkmessage-square4fedilinkarrow-up131arrow-down10file-textcross-posted to: news@lemmy.worldnyt_gift_articles@sopuli.xyz
arrow-up131arrow-down1external-linkAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.comsilence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · edit-26 months agomessage-square4fedilinkfile-textcross-posted to: news@lemmy.worldnyt_gift_articles@sopuli.xyz
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minus-squarephdepressed@sh.itjust.workslinkfedilinkarrow-up5·6 months 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-squaresilence7@slrpnk.netOPMlinkfedilinkarrow-up1·6 months 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.
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.