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-squarereddig33@lemmy.worldlinkfedilinkarrow-up3·6 months agoIm thinking state governments will just move in and provide an insurance fund.
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.
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.