An Indian Civilizational Perspective

US Insurers getting away from the Coasts!

It may soon become impossible to live on the coasts!  I saw someone say that next century will see many once-prosperous cities in the US in ruins.. I dont know if the weather or natural disasters will directly do that.. but at least the market forces that are influenced by the disasters will make that happen!

Usually, the market forces do attempt to move the society in a certain way that it may not have been possible by design.. mostly its an aggregate of the selfish individual motives.. but in the end it turns out to be the most optimal decision.

Insurers Retreat From Coasts:

Alarmed at the sharply rising cost of hurricanes and other disasters, home insurers are pulling back from some U.S. coastal markets, warning of gathering financial storm clouds over how the United States pays for the damage of catastrophe. The development is yet another legacy of Hurricane Katrina, whose mounting toll of destruction along the Gulf Coast has crystallized a growing industry debate about the combined effect of climate trends and population growth in coastal areas. Some believe the two are creating a risk of losses so large that insurers could be pushed to the breaking point, leaving the government and taxpayers holding the tab for the next disaster.

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