It’s largely legislative changes that have made insurance unprofitable in those states. Florida’s bad faith law and banning of international reinsurers have both hurt the industry a lot. California has had wildfires for a long time and their frequency hasn’t increased much over time.
I left a more detailed comment elsewhere in this thread if you’re interested.
It’s largely legislative changes that have made insurance unprofitable in those states. Florida’s bad faith law and banning of international reinsurers have both hurt the industry a lot. California has had wildfires for a long time and their frequency hasn’t increased much over time.
I left a more detailed comment elsewhere in this thread if you’re interested.