If you are interested in learning about what happens when the rubber of homeowners insurance meets the road of climate change, look no further than this oversight hearing that occurred yesterday in the California Assembly: www.assembly.ca.gov/media/assemb...
Great illustration of risk concentration in the California FAIR Plan. Like a health insurance policy that's sold only to people who have prior diagnoses of chronic disease. Look at the exposure number - $311 billion - for a residual market. Up $25B in Jan/Feb by the way...
This is a pretty amazing hearing. Thanks for sharing!
BTW, thank you for pointing out this hearing. Really unbelievable.
Did you notice the error on the x-axis on that first graph you posted, from the state's Sustainable Insurance Strategy deck? Look at the right side, where a quarter is equated to a year. Correct graph in this blog with March data. Looks worse! www.paloaltoonline.com/blogs/a-new-...
The property insurance mess in California is one example of the diffuse impact of climate change.
Ish thanks for flagging this session by the way, slowly working through it now and it's just full of yikes.