Insurance deserts, where private-sector companies no longer will sell regular home-insurance policies, are developing in high-risk areas | Insurance agents and analysts said many insurers are “quiet quitting” high-risk areas rather than face the fallout from an official exit.
by silence7
3 comments
Yeah, I get it. After witnessing the aftermath of Hurricane Irma in FL keys a few weeks after with huge piles of debris being loaded into fleets of trucks. And the massive irony of new billboards advertising new condos. Together with the land being just a few feet above sea level. No wonder insurers are running away.
The insurance industry is the only industry where capitalism marches in lockstep with reality.
Geico in 2022 closed all its sale offices in California.
The ENTIRE state. This is a huge deal.