#Hurricane #Helene thought ... For years now, we in #Florida have been in crisis because insurance companies see no way to make a profit here. The few companies still selling insurance here charge exorbitant premiums.
Helene proves the hurricane threat is no longer limited to Florida.
The insurance crisis is now a national issue. Congress will have to create homeowner insurance of last resort. Much of the country will be unable to buy wind/flood insurance after this. No state is safe.
@WordsmithFL
Yeah. The insurance issue is already reaching other states. I have no idea what the solution is, other than "be rich". 😟
@janallmac After Northridge in 1994, #California created a state quake insurance authority.
#Florida has Citizens, but you have to prove you can't get insurance elsewhere, and they have the right to sell your policy if they can find a buyer.
The US government will have to create a giant insurance pool for natural disasters -- quakes, hurricanes, tornadoes, floods.
But the GOP won't do it, of course, so the Dems will have to have the White House and Congress to make it happen.