Peter GleickMay 28, 2023

Climate change and extreme events are explicitly mentioned as a reason insurance companies are withdrawing from markets with skyrocketing risks.
Do you still deny #climate change, or don't want to act to address it?
The market is coming for you.

#climatechange

https://www.latimes.com/california/story/2023-05-27/state-farm-is-no-longer-accepting-property-insurance-applications-in-california?s=09

State Farm not accepting property insurance applications

The company blames 'increases in construction costs outpacing inflation, rapidly growing catastrophe exposure and a challenging reinsurance market.'

Los Angeles Times
Show threadCaffe Neko
@petergleick What's the point of insurance again? Sorry our disasters are creeping into your guaranteed income streams.
May 28, 2023 at 5:52pmWeb