157
Say goodbye to more insurance companies, California.
Oh no they'll have to resort to mutual insurance run as a nonprofit? Oh the horror
I don't know that even a nonprofit will be able to cover what climate change is wreaking on California in terms of wildfires.
They're a kind of insurance firm founded as a not for profit endeavor that supply mitigates the risk among a community. The insurance costs what it should to mitigate the risk - no more, no less. The policyholders are the stakeholders in the business.
Quite a few mutual insurance providers are struggling in places like California and Florida because they didn't correctly price in the potential impacts of climate change. The main issue that mutual providers have is that their risk pools are much smaller and generally very regional. If your whole region is on fire then everyone is screwed.
Additionally, they are dependent on the same reinsurance providers that other for profit insurance providers are which is already more expensive for them because of the smaller risk pool.
I can see that. I'm not going to discard the idea just because some actuary didn't do a great job though. Prices will have to increase as risk assessments rise to meet reality. Same way good fish gets more expensive the riskier things get out at sea. At some point, in theory, the markets correct to reflect these changes.
In theory, that is.
Eastern Oregon is also going through a bunch of fires so itll be interesting to see if some pull out of Oregon too.
Why did the guy start the fire though. It says that he pushed a burning car into a valley to start the fire but what possible motive could someone have for intentionally doing that?
Maybe he was going through a divorce, and the wife wanted the car?
Whatever the reason the guy is absolutely fucked.
Absent diminished capacity in some important way... This shows reckless disregard for life, liberty, livelihoods, and homes.
Entire families will now be uprooted and people are likely to die when a fire becomes a conflagration. If a single person dies, firefighter or person who could have evacuated... It goes back to this guy.
He is fucked. And he should be.
Possible? Mental illness. Delusion. Anxiety. Impulse control.
Even normal people are nuts.
People are breaking from the state of the world we have to live in. It's slowly getting worse but it feels the pace is picking up. I've stopped trying to figure out what they're thinking and just accept something broke them.
this post was submitted on 26 Jul 2024
157 points (99.4% liked)
News
22798 readers
4368 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS