5 ms·
Are you sure it's due to risk assessment for climate change and not the huge amount of fraud and litigation? I've heard that something like 80% of all homeowner
by gaadd33 4y ago
Are you sure it's due to risk assessment for climate change and not the huge amount of fraud and litigation? I've heard that something like 80% of all homeowners insurance lawsuits have been from Florida despite only having 9% of claims. When I looked into the issue that was the driving cause I found, it would be good to read some info about the climate change assessment making it into their decision to pull out.
Disclaimer: Also in South Florida
- NickC25 4y agoI'm sure it's a mix of both. Yes, there's a ton of home insurance lawsuits here, and yes, the amount of fraud here is mind-boggling. However, the rapid rise in sea level and the fact that the state legislature is bound by law to not discuss it at all is also a factor. South Florida's coasts will be uninhabitable within 50 years, and if I'm an insurer, that's also on my mind.
- HonestOp001 4y agoIncorrect. Florida is currently undergoing a massive effort to identify resiliency options across the state. There are lots of efforts in the state at the city, county, and state level to address this.
- NickC25 4y agoSource? Also, the efforts that I've seen are sub-par at best. Miami wants to build barrier islands that are a few feet above sea level in order to create a basin-type barrier around Brickell (the financial district where Ken Griffin is building a tower). Those are still in the early stages of bureaucratic hell and won't likely be built until it's way too late.