Proposition 103 in California makes it illegal to accurately price fire insurance. Insurers can only use historical data, not projections.
So insurers did the rational thing: they dropped customers
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“Proposition 103 in California makes it illegal to accurately price fire insurance.”
And that, of course, is the main problem.
In a free market, a home abutting the forests would have astronomically high insurance, discouraging construction (or encouraging mitigation).
Insurance is a scam. I don’t care about their reason, extracting profit from a pool of money makes that pool of money useless. Same story in healthcare. Insuring sick people is bad for business, so **** them, right?
@MAGA_Deplorable1yr1Y
You don't mean to say HUMAN BEINGS -- those altruistic angels -- act SELFISHLY sometimes? Who knew!
But before you blame the private insurance system, consider that governments have a track record of doing far more harm in every conceivable area than private interests ever did.
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