diffusionx
Gold Member
Companies contract with reinsurance companies to manage the high end of the catastrophic risk.This wildfire would have bankrupted a lot of insurance companies, and people would be assed out with not only not getting anything on their returns, but now without insurance. Thus, good luck getting a mortgage without HOIs since companies will refuse to insure the area without compensation for such high risks due to regulations and policies that made it a ripe tinder box.
This is all by design, you see. Now the municipals and their buddy bureaucrats will be sucking up cheap land to build on. Just in time for the 2028 Olympics.