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stop celebrating hurricane milton
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this post was submitted on 08 Oct 2024
71 points (94.9% liked)
chapotraphouse
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Literally the only silver lining I can find in this whole thing is that it could potentially destroy the home insurance industry to the point that Florida becomes completely unlivable. If nothing can be insured nobody can live there. That's kinda the only good thing that could possibly happen out of this.
Also all violence against settlers is self defense and I gotta say this specific event is 100% mother nature being violent in self defense.
Insurance as a private industry is so stupid. They extract profits to protect people from catastrophic losses, but then when something catastrophic happens, the government has to step in to save the industry. We've seen it with the risk pools that states have had to create to keep health insurers from pulling out of rural areas, with last resort programs for home insurance and flood insurance, the AIG bailout, and the built in bailouts of Obamacare.
Why do they get to collect the profits if they don't cover the risks?