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The reinsurance industry, the behemoths that insure the insurance industry and make money in good years and help cover losses in bad years...
Have been losing money and raising rates to provide catastrophic coverage to American, and other, insurance companies.
Those rate increases are substantial and are being passed along.
Plus the risk analysis for this type [storm, forest fire, etc.] of insurance isn't easy going forward between changing conditions in the environment and who knows what the regulatory situation is going to be.
But I hope anyone in harm's way stays safe (or safely got out) and has an insurance policy that will actually pay out.
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Sometimes.
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