We need a whole of industry response which the FSB has identified is part of the problem. Insurers who don’t pay out 100% if homeowners don’t rebuild exactly as before are a big part of the problem, just as they were in 2008 with credit default swap insurance. Identifying this as a huge risk to financial markets is a gift. Reminds me of the Great Salad Oil Swindle of 1963 - looks great on top until you peel back the onion.
We need a whole of industry response which the FSB has identified is part of the problem. Insurers who don’t pay out 100% if homeowners don’t rebuild exactly as before are a big part of the problem, just as they were in 2008 with credit default swap insurance. Identifying this as a huge risk to financial markets is a gift. Reminds me of the Great Salad Oil Swindle of 1963 - looks great on top until you peel back the onion.