Insurers withdraw from riskiest areas as threats from climate change grow

npr.org

7 points·1970-01-01··6 comments

> "I get companies need to make money. I have no problem with that. Increase my rate," Pratt says. "But to just drop people — you know, it's scary. It leaves us feeling extremely vulnerable."

This is a signal of just how vulnerable and at risk your house is, where it is. You are extremely vulnerable. Insurance doesn't change that.

Question is, if this has always been the case or has become a new/increasing phenomena.

I would call foul if insurances could just weasle their way out of anything that might affect their bottomline because they miscalculated risk.

What if your life insurance drops you because they suddenly get access to genetic data, so they increase their odds after the fact?

inflation is making it more expensive to rebuild

State agencies regulate the insurance industry

insurers say they can't increase rates enough to cover the damage occurring

The obvious solution is state run insurance companies if the private insurance companies want to withdraw from the market.

This has nothing to do with climate change and everything to do with insane inflation and insurance fraud, many times from property owners themselves.

Makes sense. Insurers don’t have much trouble with a changing climate, they just calculate risk and raise prices if needed, according to Buffett.

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