TALLAHASSEE — Farmers Insurance Group announced Tuesday that it would no longer write new policies or renew existing homeowner, auto and umbrella policies, a day after Florida Chief Financial Officer Jimmy Patronis took to Twitter to threaten to take action if it did. “Hearing rumors @WeAreFarmers might pull out of Florida,” Patronis tweeted Monday afternoon. “If that’s true my office is going ...
  • eltimablo@kbin.social
    121·
    2 years ago

    So we should instead punish everyone else for not living in a documented flood plane?

    • Banzai51@midwest.social
      110·
      2 years ago

      You’re not being punished in that scenario. You’re in a larger pool which lowers risk. Lower risk means lower premiums. It’s one of the principles that makes socialized medicine in countries all over the world cheaper than the US healthcare system.

      • deegeese@sopuli.xyz
        81·
        2 years ago

        Lower premiums for Florida. Higher premiums for everyone else.

        Risk pooling doesn’t work the way you think.

      • eltimablo@kbin.social
        61·
        2 years ago

        My rates would go up because of someone else’s choices. Not interested, sorry.