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Is the world becoming uninsurable?

(charleshughsmith.substack.com)
478 points spking | 1 comments | 17 Jan 25 00:32 UTC | HN request time: 0.208s | source
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amazingamazing ◴[17 Jan 25 01:54 UTC] No.42733231[source]▶
my sadly hot (no pun intended) take is that insurance needs to be let free. price controls on insurance are doubly counterproductive - not only does it result in the companies leaving, it results in those who need the insurance losing their stuff when catastrophe inevitably hits.

it’s ok if insurance is expensive - let it result in the insured goods or services having a serious price adjustment.

rather than price controls a slightly better solution would be just to nationalize insurance and force everyone to use it, but even that is not really a solution since highly correlated events are the antithesis of insurance.

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1. _huayra_ ◴[17 Jan 25 02:27 UTC] No.42733438[source]▶
Totally agree, though there should still be insurance commisions and controls to ensure that any company selling policies in a given area is solvent enough to pay out. Otherwise you'll have fly-by-night insurance companies selling sham policies for cheap then folding up shop during the next natural disaster saying "oopsies guess it's the state's responsibility now".