The Boston Globe shared a story from the Washington Post informing readers that major home and auto insurers are pulling coverage in those areas most prone to loss from hurricanes, tornados, wildfires and flooding. All the things that most people rely on insurance for.
The increased risk of loss from natural disasters means insurance companies lose money on their policies. In the first six months of 2023, there were $40 billion in insured losses from natural catastrophes. This is the 3rd most expensive January-June on record.
Where does that leave people who must insure their homes and autos when there are no policies to be had?