Corporations are right

Jimmy Patronis, Florida's "chief officer," said that Farmers Insurance pulled out of Florida not because was losing money there but because company was "woke." How that wokeness manifested itself, he does not say.

The profit motive is apparently a very shocking concept to the state official tasked with overseeing Florida's financial regulation. But if he does "get it," this would be the latest example of a right-wing Republican try ing to undermine capitalism for political ends. Let's not dignify Patronis' statement by calling it a "lie." Nor is it just stupid. It is "shtupid." Because it is undeniable that losses are what's driving some property insurers out of Florida, mostly due to massive flooding. And this problem is hardly limited to Florida. In Louisiana, 49% of which is below sea level, insurers pulling back on offering homeowner's coverage - or piling on the price tag.

State Farm has said it won't accept any new applications for property casualty insurance in California. Flooding is not the main reason. Fire is.

Allstate is also not signing new policies in the state. Why? The company says that the cost to insure new customers price customers are paying for its When an insurer spends more off claims than it collects in premiums - that's called losing money. Rest assured that California's reluctance to ban children's books about Tango, a penguin raised by two daddies (apparently true), in no way influences insurers' decisions, one or another, to cover properties there.

After decades of making good money, what's causing insurers to report less-tlian-profits after paying claims? profits after paying claims? the parade of cataclysmic weather events made worse by rising temperatures. There have always been hurricanes. warming sea surface temperatures already spawning more very destructive Category 4 and 5 hurricanes.

The Biden administration is pushing policies to address this terrifying trend. Florida governor and presidential candidate Ron DeSantis dismisses over global warming as "left-stuff." Well, not dealing with that "certainly frees up hours to go after and drag queens.

Let the grown-ups worry about drought, floods, killer heat waves related pestilence are hurting their economies. Never mind the human suffering, policies. paying its way zero It's But are concern stuff" Disney how and DeSantis' sharpest offensive companies trying to make a living his law forbidding them to require to provide proof of vaccination against COVID. This meddling reached its nutty summit in the heart of the when DeSantis attacked the ship lines operating out of Florida for that passengers be vaccinated. Face it, spending days stuffed ship with several thousand strangers, many carrying a potentially deadly did not appeal to cruise patrons the time. That went double for the ones, who make up a large chunk these companies' business. Thanks COVID, the number of people who cruises fell to under 6 million in down from almost 30 million the before.

Is it possible that these businesses on the COVID shots because wanted to keep their customers thereby, make money? Back in the real world of both climate science and business judgment, warming temperatures have made home coverage anywhere near the water unaffordable, not unattainable. The price of homeowners insurance in Florida now averages amazing $6, 000. Silicon Valley billionaire Peter Thiel recently said "that of economic cost is probably not enough to offset all the wokeness in the world awn the takes.