About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.

Perhaps the most interesting part of the article:

  • explodicle@sh.itjust.worksEnglish
    2·
    20 hours ago

    Their time preferences have been shortened to “this quarter” just like the rest of the economy. We would need to buy insurance plans that last decades and not renegotiate every year.

    So long as we live in an economy designed to maximize GDP, this can’t work.