silence7@slrpnk.netM to Climate@slrpnk.netEnglish · edit-22 years agoAs Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Losewww.nytimes.comexternal-linkmessage-square4linkfedilinkarrow-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@slrpnk.netEnglish · edit-22 years agomessage-square4linkfedilinkfile-textcross-posted to: news@lemmy.worldnyt_gift_articles@sopuli.xyz
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minus-squarereddig33@lemmy.worldlinkfedilinkarrow-up3·2 years agoIm thinking state governments will just move in and provide an insurance fund.
minus-squarephdepressed@sh.itjust.workslinkfedilinkarrow-up5·2 years 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-up1·2 years 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.