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1. Embed this notice
   feld (feld@friedcheese.us)'s status on Saturday, 11-Jan-2025 04:21:30 JST feld
   It's only a trillion^Wflesh wound
   
   https://www.bloomberg.com/opinion/articles/2025-01-08/california-wildfires-expose-a-458-billion-hole-in-home-insurance
   • lainy likes this.
   • Doughnut Lollipop 【記録係】:blobfoxgooglymlem: repeated this.
   • Embed this notice
     feld (feld@friedcheese.us)'s status on Saturday, 11-Jan-2025 04:24:25 JST feld

     in reply to
     > Nearly 500,000 Californians have turned to the state’s insurer of last resort, the FAIR Plan, which has doubled in size over the past five years. The state is now exposed to nearly $458 billion in potential damage, a figure that has nearly tripled since 2020.
     
     > Pacific Palisades is also the state’s fifth-largest user of FAIR policies, with nearly $6 billion in exposure. Even a fraction of that amount would exceed the capabilities of FAIR, which at last report had about $700 million in cash.
     
     
     LMAO the state insurance is exposed to $458B but they only have $700M?????
     
     What happens then??? California cannot print money; they are not the Federal gov
   • Embed this notice
     lainy (lain@lain.com)'s status on Saturday, 11-Jan-2025 04:25:14 JST lainy

     in reply to
     @feld a trillion here, a trillion there, pretty soon you’re talking real money
   • Embed this notice
     lainy (lain@lain.com)'s status on Saturday, 11-Jan-2025 04:28:27 JST lainy

     in reply to
     @feld
     > insurer of last resort
     This is the problem. If no private insurer wants to insure your house that’s likely to burn, that might be a sign that you should get a house somewhere else
     Pissed Hippo and feld like this.
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     Pissed Hippo (sun@shitposter.world)'s status on Saturday, 11-Jan-2025 04:30:48 JST Pissed Hippo

     in reply to
     @feld This is not the first time that "Can California declare bankruptcy" has come up.
   • Embed this notice
     Pissed Hippo (sun@shitposter.world)'s status on Saturday, 11-Jan-2025 04:38:16 JST Pissed Hippo

     in reply to

     • lainy
     @lain @feld mastodong blames capitalism over and over but this is clearly the fault of government regulation.
     Jeff "never puts away anything, especially oven mitts" Cliff, Bringer of Nightmares 🏴‍☠️🦝🐙 🇱🇧🧯 🇨🇦🐧 likes this.
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     lainy (lain@lain.com)'s status on Saturday, 11-Jan-2025 04:39:52 JST lainy

     in reply to

     • Pissed Hippo
     @sun @feld if it’s capitalism and they got a capitalist insurance on the free market and the insurer goes bust, then it’s capitalism that they don’t get their money and should have chosen a better insurer
   • Embed this notice
     Nudhul (nudhul@shitposter.world)'s status on Saturday, 11-Jan-2025 04:40:52 JST Nudhul

     in reply to

     • lainy
     • Pissed Hippo
     @sun @lain @feld insurers are forced by the government to cover houses that are built in disaster zones
   • Embed this notice
     Pissed Hippo (sun@shitposter.world)'s status on Saturday, 11-Jan-2025 04:40:52 JST Pissed Hippo

     in reply to

     • lainy
     • Nudhul
     @Nudhul @feld @lain thats what I mean
     lainy likes this.
   • Embed this notice
     blitz (11112011@annihilation.social)'s status on Saturday, 11-Jan-2025 04:43:26 JST blitz

     in reply to

     • lainy
     @lain @feld u can try bricks and cement instead of wood
     Sem título-1.jpg
   • Embed this notice
     Another Linux Walt Alt (lnxw37b2@shitposter.world)'s status on Saturday, 11-Jan-2025 04:43:26 JST Another Linux Walt Alt

     in reply to

     • lainy
     • blitz
     @11112011 @feld @lain Have you ever seen what happens to a concrete structure in that situation? I've seen where CalTrans had to remove and replace roads and bridges through burned areas.
   • Embed this notice
     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: (tk@bbs.kawa-kun.com)'s status on Saturday, 11-Jan-2025 04:45:29 JST Doughnut Lollipop 【記録係】:blobfoxgooglymlem:

     in reply to

     • Crispy Branzino
     @Nimbius666 @feld Fucking scam. :blobfoxdisgust:
   • Embed this notice
     Crispy Branzino (nimbius666@comp.lain.la)'s status on Saturday, 11-Jan-2025 04:45:30 JST Crispy Branzino

     in reply to
     @feld same thing as FEMA in Florida. They buyout your plan with the liquidated 700m and blacklist your property.
   • Embed this notice
     @polarisera reposted your post (polarisera@spinster.xyz)'s status on Saturday, 11-Jan-2025 05:24:10 JST @polarisera reposted your post

     in reply to

     • Doughnut Lollipop 【記録係】:blobfoxgooglymlem:
     • Crispy Branzino

     @tk @Nimbius666 @feld AI might finally put an end to loop-hole scams lobbyists sneak into bills before they are voted on, or not. SCOTUS' recent decision on the arbitrary rules of executive agencies (citation needed), might also add transparency. Or not.

     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: repeated this.
   • Embed this notice
     Crispy Branzino (nimbius666@comp.lain.la)'s status on Saturday, 11-Jan-2025 05:32:06 JST Crispy Branzino

     in reply to

     • @polarisera reposted your post
     • Doughnut Lollipop 【記録係】:blobfoxgooglymlem:
     @polarisera @tk @feld most of this insurance is a hangover from the earliest era of California's manifest destiny push. The anzo borrego desertification and Salton sea type stuff....
     
     Americans literally believed it was not only possible but their duty to bend nature to their will and things like this only spiraled out of control as climate change ramped up. They were never sustainable. No one should live in areas of desert prone to annual fires as part of their ecosystem.
     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: and Pissed Hippo like this.
   • Embed this notice
     whiteline (whiteline@shitposter.world)'s status on Saturday, 11-Jan-2025 07:48:46 JST whiteline

     in reply to

     • @polarisera reposted your post
     • Doughnut Lollipop 【記録係】:blobfoxgooglymlem:
     • Crispy Branzino
     @Nimbius666 @tk @feld @polarisera
     
     you can totally live in deserts prone to annual fires, you just can't have vegetation near your buildings
   • Embed this notice
     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: (tk@bbs.kawa-kun.com)'s status on Saturday, 11-Jan-2025 07:48:46 JST Doughnut Lollipop 【記録係】:blobfoxgooglymlem:

     in reply to

     • @polarisera reposted your post
     • Crispy Branzino
     • whiteline
     @whiteline @Nimbius666 @feld @polarisera Just because you can doesn't mean it's a good idea. :blobfoxupsidedown:
   • Embed this notice
     whiteline (whiteline@shitposter.world)'s status on Saturday, 11-Jan-2025 07:50:54 JST whiteline

     in reply to

     • @polarisera reposted your post
     • Doughnut Lollipop 【記録係】:blobfoxgooglymlem:
     • Crispy Branzino
     @tk @Nimbius666 @feld @polarisera
     
     it will soon be an obligatory idea for many people, best get used to it
   • Embed this notice
     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: (tk@bbs.kawa-kun.com)'s status on Saturday, 11-Jan-2025 07:50:54 JST Doughnut Lollipop 【記録係】:blobfoxgooglymlem:

     in reply to

     • @polarisera reposted your post
     • Crispy Branzino
     • whiteline
     @whiteline @Nimbius666 @feld @polarisera Yes, living in an area with constant water shortages makes perfect sense. :blobfoxupsidedown: