It’s not just California and Florida now: Insurers are losing money around the country. It means higher rates and, sometimes, cancellation notices.
    • phdepressed
      5·
      7 months ago

      That’s insurance of “last resort”, just because a state has an insurance fund, doesn’t mean the costs are anything people can pay.

      • silence7@slrpnk.netOPM
        1·
        7 months ago

        Or that it’s financially viable. A fire in the wrong place will wipe out the one in California, and force the state to force all the for-profit insurers to kick in money to rescue it, which will in turn result in sharply higher rates for everybody.