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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: 0.383s | source
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bluedevil2k ◴[17 Jan 25 01:50 UTC] No.42733208[source]▶
Like we see in California, when the government sets a price ceiling, insurance companies just leave. Same in Florida. If the free market truly was allowed run normally, the insurance rates in Pacific Palisades or on the Florida coast would be so high that no one could afford to live there. Is that a bad thing? If someone was living in a house near where they tested missiles, we'd call them crazy. At what point can we say the same about people building and rebuilding over and over in these disaster areas.
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1. mym1990 ◴[17 Jan 25 22:20 UTC] No.42743881[source]▶
Its interesting because the last 5 years in the US have seen a dramatic appreciation in housing prices, and also a seeming rise of risk of catastrophic events, and insurance companies are grappling with these 2 things. Ultimately maybe different insurance products could be provided that effectively offload some or all of the risk to the home buyer(which obviously is a not a good scenario for banks giving mortgages).