Disaster Insurance Agency Geographic Withdrawal
“Why do insurance agencies withdraw from a particular geographic region?”
Climate change is making disasters more poignant around the world. However, some regions are going to be affected more than others. And sometimes these may get so bad that insurance agencies no longer feel comfortable doing business within the region. This can induce a Disaster Insurance Agency Geographic Withdrawal in which a whole glut of insurance companies pack up their bags and leave. This happened in Florida after a long series of hurricanes and may happen to California with the current wildfire crisis.