Friday, June 09, 2023
Bad Governance, Not Climate Change, Jeopardizes California Home Insurance
Two of California’s largest insurance providers have ceased offering new coverage to property owners in the nation’s most populous state. Politicians, the press, and corporate spokesmen eager to protect their Wall Street “environmental, social, and governance” (ESG) scores are blaming climate change, but the true culprit is incompetent governance.
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Bwahahaha
ReplyDeleteDitto, with and extra hahahahahah (deep breath) hahahahahaha.
DeleteFire, rain, floods, mudslides, then rebuild houses where it happened. Repeat.
DeleteSurprised the gulf coast isn't getting the same treatment.
CC
Anon at 1:40PM - there are federal laws that require insurance companies to pay for rebuilding, and also provide federally backed insurance for those that can't get insurance through regular companies.
DeleteIt's why so many houses get built right back where they were wiped out previously.
And it's the reason that all insurance companies that cover the Gulf Coast and Atlantic Coast add huge 'wind' and 'water damage' riders to their insurance policies. Can't add 'hurricane coverage' because of the Feds, but can add 'wind' and 'water' riders that are hugely expensive.