re: Homeowner’s Insurance is collapsing in LA - UPC gone, Cajun now gone - rates up 40%

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I think the only way to make it work is to have very large deductible or co-insurance requirements for named storms. It would mean having homeowners bear a big part of the risk in that situation, but at least it might get us down to manageable premiums for other risks.

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I don't disagree and I think you are probably 100% correct. I imagine insurance premiums would drop significantly if insurance companies could do a 60/40 or maybe even 70/30 coninsurance like a lot of healthcare does.

However, when a hurricane blows up another levee and your house sits in 24 ft of water for 2 weeks and is totaled and has to be rebuilt for 500K...what happens when the 70% you get back won't even cover your mortgage much less do anything toward getting you in a new house.

Then people are going to be looking right back to Papa Government for a handout....I don't think that is the right way to go either.