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California Wildfires Threaten Insurers Already Teetering From Climate Shocks
Post Reply RetroFed Forum Forum Index » Uninsurable - not just nuclear, but also unsinsurable literally
AuthorMessage
VeganPizza69 Ⓥ lemmy.vg veganpizza69@lemmy.vg
Joined: 2024-05-12
Quote

Link: https://www.nytimes.com/2025/01/08/climate/california-homeowners-insurance-fires.html?unlocked_article_code=1.n04.ONGG.l4ToJEQxRfW4

I'll note that a large chunk of the burned properties depend on the state-run FAIR plan, which provides much weaker coverage (eg: not replacement cost) than private insurers. The FAIR plan also has limited reserves, which it will replenish by issuing an assessment on commercial insurers and their policyholders.
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