Capitalism goes “woke”

Created
Wed, 07/06/2023 - 00:30
Updated
Wed, 07/06/2023 - 00:30
Careful where you point that thing It’s all fun and games until someone loses their beach house or their life’s savings (Axios): Insurability in an age of climate change is a 50-state problem. It’s just growing more actute in California, Florida, Texas, Colorado, Louisiana and New York “as insurers are being forced to re-assess their risk tolerance as climate change leads to more common and severe extreme weather events, says Steve Bowen, chief science officer at Gallagher Re.” Rates in Florida “are expected to rise about 43% to nearly $6,000 in 2023,” according to the Insurance Information Institute. No problem. Florida Gov. Ron DeSantis and Republican state legislators will just madate that “woke” insurers offer coverage anyway. Because Florida is where capitalism goes to die.