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"In the face of warnings that climate change was making" storms like Florence "more common" NC created an 'insurer of last resort' and "has written policies for thousands of coastal properties worth tens of billions of dollars." #NoFederalBailOutForNC
propublica.org/article/hurric…
propublica.org/article/hurric…
Why did the NC politicians do this?
Because "nationally known insurance companies pulled out of the state’s coastal communities". You know, they assessed the risk and said 'hell no.'
Because "nationally known insurance companies pulled out of the state’s coastal communities". You know, they assessed the risk and said 'hell no.'
State Farm stopped writing new homeowner policies for houses within a mile of the ocean in 2006. By the end of 2008, Farmers Insurance and Encompass Insurance joined SF.
