Climate News: Farmers Pulls 100,000 Florida Insurance Policies

[Rebound]

“On Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. It’s the fourth company to leave the Florida market in the last year — most citing rising risks from hurricanes. ”

The price of homeowner’s insurance is skyrocketing in Florida, averaging nearly $5,000 per year.  This is the cost of climate change, impacting nearly an entire state, right now, today. 
 

https://www.tampabay.com/news/business/2023/07/11/farmers-insurance-florida-leaving-hurricanes-insolvent/

[Michael Hardner]

16 minutes ago, Rebound said:

  — most citing rising risks from hurricanes. ”

https://en.wikipedia.org/wiki/Scientific_consensus_on_climate_change

The interesting thing is that the science jury is still out on what the effect on hurricanes is.  The consensus points are:

 

Quote

The current scientific consensus is that:

• Earth's climate has warmed significantly since the late 1800s.^[a]
• Human activities (primarily greenhouse gas emissions) are the primary cause.
• Continuing emissions will increase the likelihood and severity of global effects.
• People and nations can act individually and collectively to slow the pace of global warming, while also preparing for unavoidable climate change and its consequences.

Note that hurricanes aren't specifically mentioned although they ARE suspected as being greater in intensity.  We have to wait for the science.

This post is mostly for the climate jokers, denialists, liars and paid wh0res to not have an excuse to point fingers at me in the future.  IN short, don't be like the Heritage Foundation - have principles and stick to them.

[Rebound]

45 minutes ago, Michael Hardner said:

https://en.wikipedia.org/wiki/Scientific_consensus_on_climate_change

The interesting thing is that the science jury is still out on what the effect on hurricanes is.  The consensus points are:

 

Note that hurricanes aren't specifically mentioned although they ARE suspected as being greater in intensity.  We have to wait for the science.

This post is mostly for the climate jokers, denialists, liars and paid wh0res to not have an excuse to point fingers at me in the future.  IN short, don't be like the Heritage Foundation - have principles and stick to them.

But what IS fact is that home insurers are fleeing from Florida, with four insurers pulling out this year alone.  

[CdnFox]

1 hour ago, Rebound said:

“On Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. It’s the fourth company to leave the Florida market in the last year — most citing rising risks from hurricanes. ”

The price of homeowner’s insurance is skyrocketing in Florida, averaging nearly $5,000 per year.  This is the cost of climate change, impacting nearly an entire state, right now, today. 
 

https://www.tampabay.com/news/business/2023/07/11/farmers-insurance-florida-leaving-hurricanes-insolvent/

Doesn't actually seem to be about climate change. They're not saying that there's MORE hurricanes, they're saying the cost of rebuilding is shooting up

"Tuesday’s announcement follows a mid-June decision from Farmers to stop writing new policies in Florida due to the skyrocketing costs of hurricane recovery and rebuilding.

“With catastrophe costs at historically high levels and reconstruction costs continuing to climb, we implemented a pause on writing new homeowners policies to more effectively manage our risk exposure,” Farmers said in a statement."

 

So - more of an inflation problem than a climate problem.

Sigh, typical leftie. You read the headline and didn't read the article did you  

Just now, Rebound said:

But what IS fact is that home insurers are fleeing from Florida, with four insurers pulling out this year alone.  

But not for climate change reasons.

Soooooo .... yeah

[Deluge]

1 hour ago, Rebound said:

“On Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. It’s the fourth company to leave the Florida market in the last year — most citing rising risks from hurricanes. ”

The price of homeowner’s insurance is skyrocketing in Florida, averaging nearly $5,000 per year.  This is the cost of climate change, impacting nearly an entire state, right now, today. 
 

https://www.tampabay.com/news/business/2023/07/11/farmers-insurance-florida-leaving-hurricanes-insolvent/

More climate scare.

Residents have to decide whether they want to stay in Florida or make their way to a safer state. It'd be interesting to see how many people move out, and how many people stay away, due to lack of coverage.

[CdnFox]

1 minute ago, Deluge said:

More climate scare.

Residents have to decide whether they want to stay in Florida or make their way to a safer state. It'd be interesting to see how many people move out, and how many people stay away, due to lack of coverage.

Not really more climate scare.  He's 'fudging' their statements a bit.  they're fleeing rising COSTS of hurricane repair, not rising damages FROM hurricanes.

Inflation and building costs are going up and it's making it hard for them to predict what it will cost to fix properites that are damaged. And that makes it hard to know what to charge.

[Rebound]

3 minutes ago, CdnFox said:

Doesn't actually seem to be about climate change. They're not saying that there's MORE hurricanes, they're saying the cost of rebuilding is shooting up

"Tuesday’s announcement follows a mid-June decision from Farmers to stop writing new policies in Florida due to the skyrocketing costs of hurricane recovery and rebuilding.

“With catastrophe costs at historically high levels and reconstruction costs continuing to climb, we implemented a pause on writing new homeowners policies to more effectively manage our risk exposure,” Farmers said in a statement."

 

So - more of an inflation problem than a climate problem.

Sigh, typical leftie. You read the headline and didn't read the article did you  

But not for climate change reasons.

Soooooo .... yeah

Sorry, I forgot that everything needs to be spelled out third-grade level for you.

Construction and Reconstruction costs are higher nationwide. You agree there’s nothing about Florida labor and materials costs which are higher, right?  And Farmer’s isn’t shutting down nationwide, it’s just Florida. So why? Well… they said HURRICANES.  They said so.  Because they are a business, they don’t need to blame climate change or step into any political landmines.  Florida is simply too expensive because repeated major hurricanes are too expensive to insure, and they expect more of them.  
 

I realize you’re a little bit slow, so you probably can’t understand this at all, but it comes down to actuarial mathematics. What is the probability of a given home being destroyed by a hurricane? Past destruction doesn’t matter. If they believed the last hurricane was a 1 in hundred year fluke, they’d keep insuring. But they obviously believe that high-powered hurricanes will continue to demolish entire cities in Florida at the same or at ever-increasing rates.  
 

I know, I know… we need to keep it really dumbed down for you… what scientific or material fact would lead an insurer to believe that the strength and force of hurricanes hitting Florida will maintain or increase?  Hmmm… 

[robosmith]

1 hour ago, Michael Hardner said:

https://en.wikipedia.org/wiki/Scientific_consensus_on_climate_change

The interesting thing is that the science jury is still out on what the effect on hurricanes is.  The consensus points are:

 

Note that hurricanes aren't specifically mentioned although they ARE suspected as being greater in intensity.  We have to wait for the science.

This post is mostly for the climate jokers, denialists, liars and paid wh0res to not have an excuse to point fingers at me in the future.  IN short, don't be like the Heritage Foundation - have principles and stick to them.

The ocean temperature has climbed to record highs around FL. We all know that it is WARM WATER which FUELS HURRICANES. Warmer water means MORE FUEL. 

Where is the doubt?

[robosmith]

33 minutes ago, CdnFox said:

Doesn't actually seem to be about climate change. They're not saying that there's MORE hurricanes, they're saying the cost of rebuilding is shooting up

"Tuesday’s announcement follows a mid-June decision from Farmers to stop writing new policies in Florida due to the skyrocketing costs of hurricane recovery and rebuilding.

“With catastrophe costs at historically high levels and reconstruction costs continuing to climb, we implemented a pause on writing new homeowners policies to more effectively manage our risk exposure,” Farmers said in a statement."

 

So - more of an inflation problem than a climate problem.

Sigh, typical leftie. You read the headline and didn't read the article did you  

But not for climate change reasons.

Soooooo .... yeah

AGAIN, you don't understand that INCREASED demand always causes the PRICE TO RISE. 

Hurricanes cause the demand for building materials to SKYROCKET. Duh.

[Deluge]

1 hour ago, CdnFox said:

Not really more climate scare.  He's 'fudging' their statements a bit.  they're fleeing rising COSTS of hurricane repair, not rising damages FROM hurricanes.

Inflation and building costs are going up and it's making it hard for them to predict what it will cost to fix properites that are damaged. And that makes it hard to know what to charge.

I pretty much agree with you there. 

The reason I said "climate scare" is because activists are using it to bully the public into their way of thinking - that is wrong, and it needs to be called out. 

[Queenmandy85]

If you are not scared about climate change, you are not paying attention.

[Michael Hardner]

42 minutes ago, robosmith said:

 Where is the doubt?

There isn't currently a large opposition, or doubt, from what I can see but positive claims need to be proven through the process and that takes time.

[Deluge]

40 minutes ago, robosmith said:

The ocean temperature has climbed to record highs around FL. We all know that it is WARM WATER which FUELS HURRICANES. Warmer water means MORE FUEL. 

Where is the doubt?

Hmm. I wonder how much FUEL it'll take for Hawaii to get slammed with hurricanes.

[Deluge]

2 minutes ago, Queenmandy85 said:

If you are not scared about climate change, you are not paying attention.

Climate change is a hoax. 

You shouldn't be scared at all. 

[Rebound]

45 minutes ago, robosmith said:

The ocean temperature has climbed to record highs around FL. We all know that it is WARM WATER which FUELS HURRICANES. Warmer water means MORE FUEL. 

Where is the doubt?

This is fact. 
https://apnews.com/article/florida-ocean-heat-climate-coral-record-bfc3010460eb077fc14d53a6f768931d

[CdnFox]

1 hour ago, Rebound said:

Sorry, I forgot that everything needs to be spelled out third-grade level for you.

ROFL - well it's always fun when you start off like that   Lets continue

Construction and Reconstruction costs are higher nationwide. You agree there’s nothing about Florida labor and materials costs which are higher, right?

Wrong.

https://www.bizjournals.com/southflorida/news/2021/11/23/construction-costs-are-still-going-up.html

In fact it's high for the national average and will be for a while.

But it's also the NATURE of the construction.  It creates VASTLY more instability in  market prices in areas where you have widespread events. If A building burns down then the costs are x but if 20 buildings in an area get damaged then costs could triple that instant.

It's a problem the insurance industry faces everywhere,  So - if prices are high already and unstable it gets even worse in natural disaster zones

Nicely done - you started out by completely effing up, lets see how you do with the rest   I'll break it up a bit

 

 

[Rebound]

3 minutes ago, Deluge said:

Climate change is a hoax. 

You shouldn't be scared at all. 

And yet; four major home insurers have pulled out of Florida so far this year and rates are skyrocketing. That is not a hoax. 
 

Chevron doesn’t think it’s a hoax:

”Chevron supports the Paris Agreement and is committed to addressing climate change while continuing to deliver energy that supports society. Climate policy should achieve emissions reductions as efficiently and effectively as possible, at the least cost to economies. We support well-designed climate policies.”

Edited July 12, 2023 by Rebound

[Deluge]

1 minute ago, Rebound said:

And yet; four major home insurers have pulled out of Florida so far this year and rates are skyrocketing. That is not a hoax. 

Then you'd better stop wasting time here and get evacuations going. 

[robosmith]

1 minute ago, Deluge said:

Hmm. I wonder how much FUEL it'll take for Hawaii to get slammed with hurricanes.

Hawaii already gets Hurricanes.

What is the temperature of water in the mid-Pacific Ocean?

I KNOW it is NOT as warm as the FL keys in the summer. AKA, hurricane season.

[CdnFox]

1 hour ago, Rebound said:

I realize you’re a little bit slow, so you probably can’t understand this at all, but it comes down to actuarial mathematics. What is the probability of a given home being destroyed by a hurricane? Past destruction doesn’t matter. If they believed the last hurricane was a 1 in hundred year fluke, they’d keep insuring. But they obviously believe that high-powered hurricanes will continue to demolish entire cities in Florida at the same or at ever-increasing rates.  

ROFLMAO - it's got nothing to do with that   LOL HOLY SHIT ARE YOU STUPID kid

 

The can predict how many events on average there are going to be.  But - they can't predict the costs of repairs  

So it's not about 'high powered hurricanes"  (ever notice that for the left eveyrthing they don't like is 'high powered'?")

The question is how much do you charge.  If you know 10 homes will be destroyed  but you don't know how much it's going to cost to rebuild those homes... how can you charge the right amount for insurance?

 

ROFLMAO -  It's hilarious that you not only effed that up so bad, AND effed up your original premise, but you're dumb enough to pretent OTHERS are stupid while you do it'

 

Absolutely classic   Typical leftie  

4 minutes ago, Rebound said:

And yet; four major home insurers have pulled out of Florida so far this year and rates are skyrocketing. That is not a hoax. 
 

 

Becasue of building costs

You're an !diot  

[Michael Hardner]

9 minutes ago, Deluge said:

Climate change is a hoax. 

What would convince you that it isn't ?

[robosmith]

5 minutes ago, Deluge said:

Then you'd better stop wasting time here and get evacuations going. 

You'd better STOP TROLLING long enough to understand that NO ONE here has the power to "get evacuations going." Duh

[Rebound]

5 minutes ago, CdnFox said:

ROFLMAO - it's got nothing to do with that   LOL HOLY SHIT ARE YOU STUPID kid

 

The can predict how many events on average there are going to be.  But - they can't predict the costs of repairs  

So it's not about 'high powered hurricanes"  (ever notice that for the left eveyrthing they don't like is 'high powered'?")

The question is how much do you charge.  If you know 10 homes will be destroyed  but you don't know how much it's going to cost to rebuild those homes... how can you charge the right amount for insurance?

 

ROFLMAO -  It's hilarious that you not only effed that up so bad, AND effed up your original premise, but you're dumb enough to pretent OTHERS are stupid while you do it'

 

Absolutely classic   Typical leftie  

Becasue of building costs

You're an !diot  

Explain why building costs are higher in Florida than elsewhere. What’s that? You can’t? Duh, of course you can’t. 
 

“The decision by Farmers follows years of turmoil in the state’s property insurance market, triggered by a series of hurricanes starting in 2017. Floridians pay the highest property insurance premiums in the nation, and 13 companies have gone insolvent in recent years. Many others have stopped writing new policies or pulled out of Florida.“

Edited July 12, 2023 by Rebound

[robosmith]

3 minutes ago, CdnFox said:

ROFLMAO - it's got nothing to do with that   LOL HOLY SHIT ARE YOU STUPID kid

 

The can predict how many events on average there are going to be.  But - they can't predict the costs of repairs  

So it's not about 'high powered hurricanes"  (ever notice that for the left eveyrthing they don't like is 'high powered'?")

The question is how much do you charge.  If you know 10 homes will be destroyed  but you don't know how much it's going to cost to rebuild those homes... how can you charge the right amount for insurance?

 

ROFLMAO -  It's hilarious that you not only effed that up so bad, AND effed up your original premise, but you're dumb enough to pretent OTHERS are stupid while you do it'

 

Absolutely classic   Typical leftie  

Becasue of building costs

You're an !diot  

YOU'RE the lDIOT who does NOT UNDERSTAND that the growth in building costs is FUELED BY DEMAND, and Hurricane destruction FUELS DEMAND. Unlike YOU, insurers KNOW FAR MORE about the situation.

[CdnFox]

17 minutes ago, Deluge said:

I pretty much agree with you there. 

The reason I said "climate scare" is because activists are using it to bully the public into their way of thinking - that is wrong, and it needs to be called out. 

OF course they do.  Bullying is what they're all about.

THe left tries to motivate people with fear or anger. That's it.  Rational thought doesn't come into it except by accident,

The thing is this is happening in a lot of places including canada too, and i've had many talks with globally active insurers about it.

With instability in costs happening everywhere the truth is that even if NOTHING changed in miami the brokers will often leave an area or jack prices beause that area has ALWAYS been a little unstable and they're taking unexpected losses elsewhere.

So of course as insurers tighten up its the most 'at risk' areas that get cut first.  That's the way it works.   If you only have the cash to insure one car, are you going to insure the 30 year old mother of 2 with the minivan or the 20 year old with a mustang and 3 dui's?    

So places like florida, bc, the atlantic provinces, etc tend to get hit the worst.