AAA pulls back from offering insurance in Florida, following Farmers
More insurance companies are fleeing the state because of the growing threat from natural disasters.
More insurance companies are fleeing the state because of the growing threat from natural disasters.
Told ya.
Now that the insurance have lifted the taboo of stopping insuring people for climatic reason you will see more of those action everywhere.
hopefully this is the monetary incentive required not to build in stupid places with lax regulations ... but i doubt it.
That's fine, but what happens when this expands with the the increasing effects of climate change? What happens when Arizona, New Mexico, and Texas health insurance costs triple because of the risks of extreme heat? What about New Orleans or locations prone to extreme storms or hurricanes?
Huge patches of countries all over the world are soon to become uninsurable because climate change makes it too dangerous to live there.
We say goodbye to our quality of life.
Pensions are a result of our capacity to produce wealth, but as the cost of life will rise those pensions will be slowly erased. You'd better spare money as young as possible. The climate is guaranteed to get warmer for at least 20 years, whatever we do now. Based on the fact that we are not doing anything anyway you can safely bet on a constant raise of temperature for 40 years. So your pension will be your life savings.
Arizona and the region of the lake Mead will probably stop honoring the laws about water, you know, a state cannot confiscate all the water for himself yadayada
The importance of being vegan in one picture. But by now it's too late anyway.
What about New Orleans or locations prone to extreme storms or hurricanes?
It has already been happening in New Orleans for years now. There are very few insurers left.
Time to buy some property in Alaska
Except Florida's building code is more robust because of hurricanes, so it is more regulated than other states. They had lax standards up until 1993 when hurricane Andrew wiped Homestead, FL off the map over the course of a weekend. In 1996 they strengthened the building code to account for better construction methods to deal with hurricanes and tropical storms.
FTR, I'm not advocating for people that decide to move to Florida, I lived there myself from 1996 to 1999, and I have family that still reside in the state. The political climate in Florida is so much different now than it was back when I lived there...the "head in the sand" when it comes to climate change is real, and up until the water creeps into their living rooms in Tallahassee they might admit it's real.
Their codes are decent, but their construction firms and inspections have a reputation for putting up actual structures well below code, to put it mildly.
Building codes are only as good as their enforcement. If the firms aren't competent enough to implement them and the local councils don't have the will to punish bad actors, they mean nothing. And given that Florida is already in a nation-setting inflation crisis, I truly doubt they'll be changing policy in a way that makes homes more expensive -- like strictly enforcing code -- any time soon.
This is happening sooner than I anticipated. How about Florida spend less time fighting culture wars and more time getting to work on building those seawalls.
I am under the impression that Sea Walls will accomplish nothing. Their water table limestone, so to speak. They are going to b3 drinking salt water tears before their houses are permanently flooded.
After George “WMD” Bush and Donald “I did everything right and they indicted me” Trump I am sure nobody cares about Floridians except the people who keep believing Florida is some sort of paradise. They’re right, Florida is a “P” word but that word is parasitic.