<SNIP>Global warming really means climate weirding, I think.
But obviously SOME people ARE preparing for climate weirding.
For example, those insurance companies which are no longer offering homeowner protection in FLA?
They sense (perhaps fear is the better word) that the hurricanic activity might easily wipe them out should two or three hurricanes hit population centers in FLA.
Now that might happen this year or it might never happen, but those boys play the odds, and apparently they are convinced that the RISK of that happening exceeds to the POTENTIAL rewards the gain if it DOES NOT happen.
One would have to do a search and evaluate the data, but has there really been an increase of storms in Florida in the past 100 years? Storm damage is another thing entirely in
population centers in FLA. If building becomes proportionally concentrated in storm prone areas, we should expect an increase in property damage proportionally. If the structures built there are structures of the most expensive types then the damage which occurs will be more costly to repair.
The incentive for State Farm and other insurance companies to leave Florida, lies not with “climate weirding” but with the concentration of new development in the storm vulnerable coastal areas in recent years. There’s not much reason to move to Florida if not for being able to live along the seashore, rather than the hot, humid, interior.
Unfortunately seashore habitation has a risk, namely hurricanes and the damage they wreak on structures built too close to the shore to have the protection of building “inland” where winds, storm surge, and flooding will naturally have abated.
In a commonsense world, there would be regulations drastically limiting building right up and onto the beach. Not only are Florida politicians not able to force that discipline on developers, but they do the reverse and donÂ’t allow insurers to charge more for coastal development, therefore creating an incentive for more coastal development rather than less.
The cost of insuring those structures at greater risk is distributed throughout the rest of the populationÂ’s property owners by regulating insurance premiums
to not take damage risk into account. This type of regulation actually acts as an incentive to build more in risky locations. ThatÂ’s because those who live in the safer areas inland are forced to absorb the costs of insuring for the risks of living on the coast.
But to go further, the politicians control the premiums the insurers can charge for property damage by holding hostage their ability to insure automobiles there, or to give up insuring in the state at all. That's why insurers like State Farm finally leave. Consider the possibility of a federal government getting involved in that consideration...
Florida needs economic growth to pay for the cost of government and its services, and economic growth is determined by population growth; I.E. tourism, people moving there needing places to live, making purchases, competing for jobs, etc. Because of thatÂ… the necessary growth must be maintained by everyone there by indirectly underwriting the cost of insuring for hurricane damage along the coast line.
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