If the government is paying for the company to have profit why don’t the government just do it themselves?
I feel like if the intent is that a private company provide the insurance, they could like force that if they want to do business they need to cover some portion of high risk area, a proportion that does balance things out.
I think this is a way to get things passed without having to admit the cost. It would be cheaper to have the government cover the insurance since there will be no profit taking. But if that was done they would have to admit just how much these small rural communities are costing.
The companies are only all to glad to have a guaranteed profit with capped responsibilities when the time to pay comes due. They won’t even have to raise the rates and can underwrite more expensive and numerically more homes than make any sense since what the company has to pay is capped.
This is a complete failure of Governance made at the behest of the elected. Of course the people who live there want it. Free money, cheap living and no need to adjust your living to the world around you.
If the government is paying for the company to have profit why don’t the government just do it themselves?
I feel like if the intent is that a private company provide the insurance, they could like force that if they want to do business they need to cover some portion of high risk area, a proportion that does balance things out.
I think this is a way to get things passed without having to admit the cost. It would be cheaper to have the government cover the insurance since there will be no profit taking. But if that was done they would have to admit just how much these small rural communities are costing.
The companies are only all to glad to have a guaranteed profit with capped responsibilities when the time to pay comes due. They won’t even have to raise the rates and can underwrite more expensive and numerically more homes than make any sense since what the company has to pay is capped.
This is a complete failure of Governance made at the behest of the elected. Of course the people who live there want it. Free money, cheap living and no need to adjust your living to the world around you.