- cross-posted to:
- usnews@beehaw.org
- cross-posted to:
- usnews@beehaw.org
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.
All the insurance companies have insurance too (reinsurance) amd there is a state-run insurance company so it’s not big a deal that they’ll go out of business, it’s that costs are just rising ridiculously fast. They just passed a law full of legal changes the insurance companies wanted (like making it harder to sue insurance companies) just to keep costs rising at “only” 40% in a year.
To apply for the state-run insurance it has to be 20% cheaper than any plan you can find with comparable coverage, and they can arbitrarily kick you off of it for no reason.