Quote:
Originally Posted by tophcfa
Things can only be changed within the ability to control them. Nobody can change natural disasters. What can be changed?
- People living inland, who have significantly lower exposure to natural disaster risk, should not have their premiums jacked up to subsidize those who choose to live closer to harms way. If people living close to the shore can’t afford, or get, insurance then that shouldn’t be others problems for their riskier choices.
- Do something about the roofing scam, like pro-rating replacement based on age.
- Regulations on insurance companies needs to strike a delicate balance between protecting both the customers and the insurers. If the regulations are too onerous for insurers, they will simply pull out of the market. Insurance Companies are all about diversifying risk, unfortunately hurricane risk is next to impossible to diversify. It’s critical to have as many Companies as possible willing to write policies in the market to keep any individual company’s exposure to the region down, resulting in lower premiums. The opposite is happening in Florida, as evidenced by Farmers pulling entirely out of the state. That leads to thousands of homeowners looking for policies from a limited number of remaining insurers who have little or no appetite for more correlated risk that can’t be diversified away. Under that scenario, premiums can only go in one direction.
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To answer the ? posted in the 1st paragraph. What can be done? CO2 pollution MUST be reduced. Since one can NOT control the population increases from 1960 to today, then, the answer is more new E-vehicles need to be purchased by US citizens. In the US 8% of new vehicles are ELECTRIC, in Europe it is 20%.
........Also, more factories to capture CO2.