California is one of the capitalistic states out there. But they have politicians, government, regulation, like any other state. Insurers are also rapidly leaving Florida, so it might not just be about regulation, or those two states do lots of regulation, or something in between.

> so it might not just be about regulation

Or is it about risk? Those places have a fair few large disasters, and one is sinking while denying it.

Its about reality. Both states should be.preventing public housing where reoccuring signifixant hazards effect populations. Instead, they.try to manipulate the insurance market.

You have to define reoccurring and significant. Much of CA is on a fault line, so should everybody move to the desert where it’s scorching hot but a bit safer?

FL here. Florida was hit by a wave of roofing fraud. They are changing out the laws (which will make sense).

They do. HN commenters often over simplify complex issues.

They are not oversimplifying it. The law says they can’t use forward looking projections, only historical data to build rates. Coupled with climate change the CA insurance commission certainly doesn’t understand economics and they’ve created a recipe for failure.