Insurance Companies Limit Exposure In Florida, California. Will Texas Be Next?
Insurance Companies Limit Exposure In Florida, California. Will Texas Be Next?
Source: Reduce Flooding Blog - Bob Rehak
Date: 07/18/2023 5:16pm
Article Summary:
Insurance Companies Limit Exposure in Florida, California, and Possible Impact on Texas
The message discusses how insurance companies are limiting coverage or pulling out of disaster-prone states like Florida and California. It also mentions that some policyholders in Florida had their claims significantly reduced after Hurricane Ian. The article highlights the benefits and disadvantages of living near water, and how insurance companies facing pressure from shareholders and regulators may force policyholders to reevaluate the risks of living near water. The author shares their concerns about whether Texas will face similar insurance problems and references the dense development on the Bolivar Peninsula after Hurricane Ike. The message concludes by mentioning the ongoing study and potential construction of an "Ike Dike" to protect properties from future storms.
Read article here »
Date: 07/18/2023 5:16pm
Article Summary:
Insurance Companies Limit Exposure in Florida, California, and Possible Impact on Texas
The message discusses how insurance companies are limiting coverage or pulling out of disaster-prone states like Florida and California. It also mentions that some policyholders in Florida had their claims significantly reduced after Hurricane Ian. The article highlights the benefits and disadvantages of living near water, and how insurance companies facing pressure from shareholders and regulators may force policyholders to reevaluate the risks of living near water. The author shares their concerns about whether Texas will face similar insurance problems and references the dense development on the Bolivar Peninsula after Hurricane Ike. The message concludes by mentioning the ongoing study and potential construction of an "Ike Dike" to protect properties from future storms.
Read article here »