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A comment on The Case for Letting Malibu Burn (1995). Parent comment

Re:The Case for Letting Malibu Burn (1995) by daveguy on Monday January 13, 2025 @10:53AM (#42684777)
> Or an insurance company that went bankrupt?

Yes. There were 6 insurance companies that went bankrupt in Florida in 2022. I am surprised you didn't know insurance companies go bankrupt all the time due to mismanagement.

https://news.climate.columbia.edu/2022/11/03/with-climate-im...

Insurance should not be used as a profit source. It is antithetical to the purpose of insurance.

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Re:The Case for Letting Malibu Burn (1995) by refurb on Tuesday January 14, 2025 @06:13AM (#42695976)
Those are tiny state insurance companies. I was thinking large national ones.

Regardless, the Florida examples are eligible for FIGA insurance that covers claims that insolvent insurer can’t.

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