In light of everything that happened in LA, I actually want to talk about insurance and climate change.
This isn't new, though. Insurance companies have been canceling policies and coverage in recent years for several reasons - many tied to the increased financial risk and changes to the insurance landscape.
Frequent and severe weather events like hurricanes, wildfires, and floods have led to massive claims. This has made insurance in certain areas like Florida and California less profitable and sustainable.
Within those high-risk areas, insurers are reevaluating the overall risk areas and either increasing the premiums or withdrawing coverage altogether, which we saw in the last two weeks in California.
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