Fact is there's a variety of 1 in 100 year events. Tsunamis, pandemics, floods, storms, earthquakes, wildfires, wars, it's a pretty long list. So you're going to get an 'event' of differing variety every few years.
As civilisation becomes more complex and involved (read: expensive), the cost of an event (and thus the insurance) ratchets exponentially. In California for instance, many insurers are abandoning it, or not taking on new policies, as the replacement costs are stratospheric.
The future is self insurance, or under-insurance.
As civilisation becomes more complex and involved (read: expensive), the cost of an event (and thus the insurance) ratchets exponentially. In California for instance, many insurers are abandoning it, or not taking on new policies, as the replacement costs are stratospheric.
The future is self insurance, or under-insurance.
statistics: Posted by bradc — 4:14 AM - Today — Replies 6859 — Views 589999
