Re:It’s Like An Enron, But For Insurance
by hga on Monday January 27, 2014 @08:47AM
(#7130238)
Agreed.
Don't know why or even if insurers are pulling out of the U.K., but you don't have to use "climate change" to explain what's happening in Florida, it's a hurricane magnet (although not since 2005) and the state government has heavily intervened in the market, runs a unit that covers 21% of the residential market. It's not financially sound from what I've heard, so private insurance companies who can't make up future losses by raising taxes are obviously at a disadvantage.
There's also quite some distance from "climate change" (predicted by computer models but not been happening for more than a decade) to "increased adverse weather" (totally speculative) to "let's start an insurance company!" (in a state that still has ones covering 79% of the residential market), and trying to compete with the government.
Which has a really crazy criminal justice system (doesn't matter which side you're on in the Zimmerman-Martin case, it's obviously crazy and politicized all the way to the top (AG and governor)).
Don't know why or even if insurers are pulling out of the U.K., but you don't have to use "climate change" to explain what's happening in Florida, it's a hurricane magnet (although not since 2005) and the state government has heavily intervened in the market, runs a unit that covers 21% of the residential market. It's not financially sound from what I've heard, so private insurance companies who can't make up future losses by raising taxes are obviously at a disadvantage.
There's also quite some distance from "climate change" (predicted by computer models but not been happening for more than a decade) to "increased adverse weather" (totally speculative) to "let's start an insurance company!" (in a state that still has ones covering 79% of the residential market), and trying to compete with the government.
Which has a really crazy criminal justice system (doesn't matter which side you're on in the Zimmerman-Martin case, it's obviously crazy and politicized all the way to the top (AG and governor)).