Tag: insurance


  • The Coming War of Florida and Alaska: Choices of a Hotter Planet

    Florida and Alaska are at war, and neither knows it. But they embody the coming conflict over global warming that will have clear winners and losers. Florida is now becoming un-insurable.

    …a series of studies have made it clear that if the Big One or even a Pretty Big One strikes, Florida is going to have very serious problems. The state-run insurance firm and the Catastrophe Fund have just a few billion dollars on hand, so a major storm would force both entities to float massive bond issues in an unfavorable market, and to make up their shortfalls through gigantic assessments on policyholders. A House committee recently warned that the state would have “extreme difficulty paying its obligations” after a 100-year storm, and that premiums on nearly every property, car and business could skyrocket. A report for the state Office of Insurance Regulation found that even a 50-year

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