@[email protected]M to Climate - truthful information about climate, related activism and [email protected]English • edit-22 months agoAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.comexternal-linkmessage-square4fedilinkarrow-up131arrow-down10file-textcross-posted to: [email protected][email protected]
arrow-up131arrow-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-22 months agomessage-square4fedilinkfile-textcross-posted to: [email protected][email protected]
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minus-square@[email protected]linkfedilink5•2 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-square@[email protected]OPMlinkfedilink1•2 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.