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

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

  • OldWoodFrame@lemm.ee
    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
      3·
      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.