: "I've read recently that big insurers are pulling out of Florida, causing a financial crisis of sorts. The state is trying to step in as the insurers of last resort, but with limited resources, so it is begging the biggies to stay. The next major hurricane will probably settle the issue."

@philipswenz.bsky.social

I've read recently that big insurers are pulling out of Florida, causing a financial crisis of sorts. The state is trying to step in as the insurers of last resort, but with limited resources, so it is begging the biggies to stay. The next major hurricane will probably settle the issue.

Jun 12, 2024 at 00:09 UTC

1 replies 0 reposts 1 likes

Alex @aduzik.com
[ View ] Jun 12, 2024 at 00:46 UTC

Yep, the bottom line is that it’s increasingly not economical to insure homes in those places anymore. Maybe it’ll lead to a housing crash and eventually reach some kind of equilibrium, but I’m not so sure.

0 replies 0 reposts 1 likes