3 ms·
sure, and that's the rub. the systemic risk in this case is for a relatively small/local system compared to the state. if the systemic risk were distributed acr
by clairity 6y ago
sure, and that's the rub. the systemic risk in this case is for a relatively small/local system compared to the state. if the systemic risk were distributed across the state, the easy answer is socializing the cost at the state level. but here, it's more localized than that (even as the boundaries might be long, since the risks tend to be on the edges). how much should be apportioned to the individuals/companies, insurance, and the government?
it's similar to the discussion around flood maps in relation to assessors/appraisers, risk adjusters, fema, and insurance. those maps are at least in part designed to apportion risk and responsibility.
- dredmorbius 6y agoNot sure I agree here. In recent years, wildfire has hit urban parts of Santa Barbara and surrounding communities (Goleta, Monticello, Carpenteria), downtown Ventura, Santa Rosa, both city and suburban Los Angeles and San Diego, and entire rural cities (e.g., Paradise). Urban-wilderness interfaces are major feaatures of the San Francisco Bay Area, Los Angeles, Ventura, Santa Barbara, San Diego, Vacaville, and other counties and metro areas. The prospects for major urban-impinging wildfires in Solono, Alameda, Contra Costa, Santa Clara, San Mateo, Marin, Sonoma, and Napa counties, even if generally subject to less-severe conditions (lower temps and winds, higher humidities) is high and growing. (Several of these regions have seen major fires.) Structural damage and economic would be extreme.