[aerohead]

Originally Posted by redpoint5

I do think insurance needs to reflect actual probabilities of risk and expose consumers to them. In other words, if a place is likely to flood, insurance shouldn't spread that risk onto those where it's less likely to flood, thereby creating the wrong incentives for deciding where to build.

If an area is prone to natural disaster, it should cost a lot to build and to live there.

Likewise, if Miami needs to fortify against the sea, it needs to bear that cost itself.

Bravo!