More insurance companies are fleeing the state because of the growing threat from natural disasters.

  • rusticus1773
    link
    fedilink
    arrow-up
    11
    ·
    1 year ago

    Can we see an article with which insurance is left? Will there only be smaller companies that just claim bankruptcy after the next hurricane and then Florida asks taxpayers to bail them out? Fuck that.

    • OldWoodFrame@lemm.ee
      link
      fedilink
      arrow-up
      10
      ·
      1 year ago

      All the insurance companies have insurance too (reinsurance) amd there is a state-run insurance company so it’s not big a deal that they’ll go out of business, it’s that costs are just rising ridiculously fast. They just passed a law full of legal changes the insurance companies wanted (like making it harder to sue insurance companies) just to keep costs rising at “only” 40% in a year.

      • body_by_make@lemmy.dbzer0.com
        link
        fedilink
        arrow-up
        3
        ·
        edit-2
        1 year ago

        To apply for the state-run insurance it has to be 20% cheaper than any plan you can find with comparable coverage, and they can arbitrarily kick you off of it for no reason.

    • iamdisillusioned@lemmy.world
      link
      fedilink
      arrow-up
      3
      ·
      1 year ago

      Yes, exactly. I read an article that said Farmers Insurance is pulling away but will still do new business in Florida under some of their smaller subsidiaries.