California moves to allow insurance companies to factor in climate change risk

For the first time, California’s insurance commissioner will allow insurance companies to factor in future climate risks when setting new policy prices. The move is aimed at keeping companies from fleeing the state, but critics are concerned over spiked premiums. NBC News’ Miguel Almaguer reports.

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[-ctzn]

"You will own nothing and be happy"

[gene]

The grift continues and keeps getting more expensive. Isn't a society based on usury enough ?

[mylifeintexas]

Thank goodness we are sending hundreds of billions of dollars to the people of Ukraine. At least they will be living the dream.

[reaganirene]

I'm so done living at this moment. We can't afford food. Now we will no longer be able to have a roof over our heads. You gotta be kidding. The rich just want to keep lining their pockets while the rest of us have to choose food or roof.

[rjackson]

My insurance went up $1000 last year. Im not eager to see what the new premium is gonna be.

[andrewstevenson]

I'm surprised insurance companies had to be "allowed" to do this. If they're a private company, couldn't they have done it anyway?

[ourcircusourmonkeys]

Ridiculous! Insurance companies already charge high fees— because we are in California!

[galdruslock]

Should be very worried after what they did to Maui lol

[redneckhippiefreak]

Here is some Irony for ya. I live on the NC Coast. Being unable to insure my home I petitioned the City and County for a provisional Building Permit . I wanted to build a Climate proof home, I presented plans for a crescent shaped concrete dome . The foundations are set 6 ft above the 200 year flood mark, it is to be covered in earth and natural vegetation with a solar array, entrance and parking on the back side. The plan was basically a 12 foot tall Hill on my property.. I was denied the permit due to "Aesthetic Concerns.".. In other words, I am not allowed to build a Home that will survive the coming climate changes from Fires, Floods, Tornadoes and Hurricanes, as well as save me thousands per year in energy and water bills, .. all because the Local Gooberment, does not want to look at a small Hill.

[ApeLikeThinker]

Yay! Now they can scam even more money out of their customers.

[lynnturman]

Gee, I wonder if the insurance companies will use this as an excuse to price gouge.

[williethomas]

Why don't you factory in on those oil to get revenue for climate change?

[fshg]

Florida Miami has high insurance rates and many leave Florida because of high rates.

[MH_]

Is this "New" policies or existing?

[tube-vthl]

Insurance companies invest premiums in fossil fuel companies.

[grantmorrey]

Now those of us on solid land can pay for the houses built on sand. Such bull puckey.

[lilblackfish]

well yea if you wana own a home in a high risk area thats your problem

[fshg]

Thank God for insurance that puts people out of California because California is not safe!

[robertmarmaduke]

There will also be a premium for "Mostly Peaceful Large Gathering Climate Refugee Chaos." Because chaos is a terrible thing to waste, if you can grift higher Worker taxes for the Elders of Mil.Gov.Sci.Edu.

[pacificbuildingcare]

Democratic party California that most taxed state period with the worst healthcare and open borders free stuff for illegal immigrants to vote democrat but don't worry California is funding Ukraine over priority, so see how this one party state works