Not even about making a buck, but about surviving. Why write a policies for an area when claims that will likely happen would bankrupt the company? That’s what happened to a lot of small insurance companies way back when Andrew hit Florida (it’s the first time I recall news about insurance companies running away). I think they are a necessary evil and will take you for everything if you aren’t careful, but I can’t fault them for seeing the obvious. At their core is the math, and the math is saying hell no.
Not even about making a buck, but about surviving. Why write a policies for an area when claims that will likely happen would bankrupt the company? That’s what happened to a lot of small insurance companies way back when Andrew hit Florida (it’s the first time I recall news about insurance companies running away). I think they are a necessary evil and will take you for everything if you aren’t careful, but I can’t fault them for seeing the obvious. At their core is the math, and the math is saying hell no.