As big an issue as the insurance problem is—and it is huge—it will be small in comparison to widespread loss of land due to sea level rise and displacement of thousands of people.
At some point property in some places will become (or already is) uninsurable. This is already happening in the west due to wildfire risk. Focusing on insurance misses the main plot—we need to fight climate change on two fronts: mitigation strategies to minimize or accommodate the changes necessary because of a changing climate, and to reduce/eliminate fossil fuel use as fast as possible.
Wow, this a very scary article. I knew Florida had a serious insurance problem with that crazy insurer of last resort, but I didn’t know how severe and immediate the problem is.
On the bonds, it’s a little funny that Florida relies so heavily on that avenue, given that it has no income tax. If I owned a muni bond fund, I’d look carefully at its exposure to Florida.
As big an issue as the insurance problem is—and it is huge—it will be small in comparison to widespread loss of land due to sea level rise and displacement of thousands of people.
At some point property in some places will become (or already is) uninsurable. This is already happening in the west due to wildfire risk. Focusing on insurance misses the main plot—we need to fight climate change on two fronts: mitigation strategies to minimize or accommodate the changes necessary because of a changing climate, and to reduce/eliminate fossil fuel use as fast as possible.
Wow, this a very scary article. I knew Florida had a serious insurance problem with that crazy insurer of last resort, but I didn’t know how severe and immediate the problem is.
On the bonds, it’s a little funny that Florida relies so heavily on that avenue, given that it has no income tax. If I owned a muni bond fund, I’d look carefully at its exposure to Florida.