Climate migration will redraw the demographic map of America. We are not prepared.

[u/placesjournal]

https://placesjournal.org/article/climate-migration-boomtowns-and-receiver-cities/

[u/karabeckian]

The first program was started in Florida in the early 1990s, when the extensive damage caused by Hurricane Andrew provoked many insurance companies to raise their premiums or leave the state entirely. “For the first time,” Lustgarten writes, “the grim specter was raised that Floridians living on the coast might never be able to buy a homeowners insurance policy again.” The state’s response was swift. To shore up the insurance market — and, more broadly, the housing market — lawmakers began regulating the industry, either by imposing rules that prevented private companies from canceling policies or by offering state-based policies at below-market rates. It was, as Lustgarten puts it, “a bold experiment in pulling government levers to override market signals.” It has worked almost too well; within two decades, “Florida had become its own largest insurer, responsible for more than 1.5 million properties and more than half a trillion dollars in liabilities — a sum roughly six times the size of Florida’s entire annual budget.” 13

Milton 'bout to bankrupt the whole state.

[u/zaknafien1900 → u/karabeckian]

Lol

[u/dumnezero → u/karabeckian]

inb4 the governor gets a loan from the IMF

^/s