US Home insurers cut natural disasters from policies as climate risks grow
US Home insurers cut natural disasters from policies as climate risks grow
Major insurers say they will cut out damage caused by hurricanes, wind and hail from policies underwriting property along coastlines and in wildfire country.
Some of the largest U.S. insurance companies say extreme weather has led them to end certain coverages, exclude natural disaster protections and raise premiums
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If insurers are refusing to cover disasters, then mortgage lenders should be unable to force buyers to buy (useless) insurance
silly cat, that's not how big business collusion and corruption work. mortage lenders will continue to force prospective homeowners to cover and maintain insurance on their properties even if it causes them to default on their payments, then they'll sell the homes again to flippers or multinationals.
Ah I see. Sounds like big business collusion should be hunted to extinction.
And bankrupt and dispossess the lender if a disaster happens to their newly acquired home?
mortgage lenders are going to have to do something. Like require natural disaster be part of the policy. Otherwise they will have people walking away from mortgages after disasters.
then they would lose income, not going to happen. let's be honest, premiums will go up and coverage will go down.