Climate change is catching up. We’ve just had two mild summers after the worst two decades in wild fire history. We’re in an El nino cycle that will likely sustain until maybe 26, 27? if it’s comparable to the cycle we had in the mid 90s. We should see fewer fires but more fuel accumulation. Then we’ll eventually enter into a la Nina phase, and experience the consequences of that period.
People like to throw the insurance companies under the bus here, and rightfully so, they’re vile and should be apologized for. But what insurance companies are not is bad at math.
California’s regulated market doesn’t support the risk, and knowing mortgage rates, the average value of homes, and the limits on rate increases, the risk is increasing at a rate of at least 3% per year.
Because of this more and more people are ending up on the FAIR plan or the non admitted market. What many probably don’t realize is that the risk pool associated with the highest risk customers is actually borne by the admitted marketplace.
Climate change is catching up. We’ve just had two mild summers after the worst two decades in wild fire history. We’re in an El nino cycle that will likely sustain until maybe 26, 27? if it’s comparable to the cycle we had in the mid 90s. We should see fewer fires but more fuel accumulation. Then we’ll eventually enter into a la Nina phase, and experience the consequences of that period.
People like to throw the insurance companies under the bus here, and rightfully so, they’re vile and should be apologized for. But what insurance companies are not is bad at math.
California’s regulated market doesn’t support the risk, and knowing mortgage rates, the average value of homes, and the limits on rate increases, the risk is increasing at a rate of at least 3% per year.
Because of this more and more people are ending up on the FAIR plan or the non admitted market. What many probably don’t realize is that the risk pool associated with the highest risk customers is actually borne by the admitted marketplace.
We literally had to adjust the y axis on our graphs last year in Canada due to the wildfires… We beat our old record… By triple.