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Is the world becoming uninsurable?

(charleshughsmith.substack.com)
512 points spking | 2 comments | 17 Jan 25 00:32 UTC | HN request time: 0s | 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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JKCalhoun ◴[17 Jan 25 04:11 UTC] No.42733984[source]▶
> when the government sets a price ceiling, insurance companies just leave…

> the insurance rates in Pacific Palisades or on the Florida coast would be so high that no one could afford to live there…

Seems like the result is the same — people will live there but without insurance.

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1. dweez ◴[18 Jan 25 04:46 UTC] No.42745912[source]▶
Can't get insurance -> can't get a mortgage -> can't buy a house
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2. int_19h ◴[18 Jan 25 09:55 UTC] No.42747175[source]▶
For new buyers, yes, but there's plenty of people who already have a house but now they have no insurance for it. And sure, the terms of their mortgage say that they have to have it, but what can the lender do if nobody will insure that particular property no matter who the current owner is?