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.

  • clutchmatic@lemmy.world
    1·
    1 year ago

    You are being downvoted unfairly. There is greed at play, but there is math and economics as well.

    The state could also help by reviewing building codes and infrastructure to make the losses due to hurricanes less severe but, with Florida republican votes not understanding the benefits of government helping address externalities for the benefit of everyone, there’s no chance the situation will improve there…

    • TheDarkKnight@lemmy.world
      1·
      1 year ago

      Most insurance companies strive to avoid excessive profits, honestly and aim for a combined ratio of something less than 5% profit. It’s a fairly competitive field, getting greedy results in losing policies and is very price reactive. Consumers can change pretty easily and do so regularly.