Re: Pearls Before Swine: Uncle At The Door

On 1/11/2025 2:33 PM, William Hyde wrote:

Dimensional Traveler wrote:

On 1/11/2025 8:54 AM, Paul S Person wrote:

On Fri, 10 Jan 2025 14:48:19 -0800, Bobbie Sellers
<bliss-sf4ever@dslextreme.com> wrote:
>

 

    So Southern California should be abandoned by all but the
entertainment industry and the retirees should move to Florida.:^(

>
Florida is out -- retirees are fleeing because of the high condo fees,
or some such nonsense.
>
Well, according to /some/ online sources, anyway.

>
High insurance costs for all the beachfront buildings that are starting to subside because of rising sea levels and the resulting knock-on effects from that like insurance companies refusing to add new policies or renew existing ones because doing so would endanger their profits.

 People in the reinsurance industry started paying attention to the problem of climate change a long time ago.  At about the turn of the century two big ones, Munich Re and Swiss Re, decided to stop offering coverage on the US gulf coast.  Others simply put up prices. As insurance companies rely on re-insurers to take some of the risk companies had to raise rates to preserve profits.
 I'd be surprised if something similar hasn't happened in fire-prone areas.  Insurance companies are not in the business of saving people, they are in the business of spreading risk and making pots of money in the process.
 

It has happened in all of California.  Same basic actions by insurance companies, trying to stop writing policies for just about anything. California state government has been fighting with insurance companies over this for a number of years, since before Newsome became Governor.
--
I've done good in this world. Now I'm tired and just want to be a cranky dirty old man.