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Not quite. In our part of the world insurers are stopping insuring against storm damage. Due to high incidence. Stopped period, not making it prohibitively exp
by testrun 1y ago
Not quite. In our part of the world insurers are stopping insuring against storm damage. Due to high incidence. Stopped period, not making it prohibitively expensive.
- pfannkuchen 1y agoAre there regulations limiting what they can charge? I think that’s what is happening in CA with fire insurance.
- selectodude 1y agoStopped period because they’re not allowed to charge what it costs to cover that risk.
- Havoc 1y agoIf you can ensure satellites stuck on top of a rocket they can do storm damage too. They just calculate the premium realise nobody is going to go for it and don’t offer it. Not because they can’t but because there is no point Same outcome but the reason isn’t “uninsurable”.
- giantg2 1y agoIf there are state regulations on rates it's possible that they can't set the rate to cover the risk while also being in compliance. If they have annualized profit caps and they need to cover those once every 10 year mega disasters, then they might not be able to comply and charge enough to cover it.