Opinion | Insurance Companies Are Quietly Fleeing California

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Opinion | Insurance Companies Are Quietly Fleeing California
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From WSJopinion: Insurance may soon join droughts, fires, floods, infrastructure, traffic congestion, homelessness and crime among California’s many crises, writes StevenGreenhut

Review & Outlook: Despite regular power shortages in California, on Sept. 16, 2022, Governor Gavin Newsom signed 40 new climate bills to amp up California’s green-energy shock experiment. Images: Shutterstock/Getty Images Composite: Mark KellyThe words “California” and “crisis” seem to go together as the state bounds from one intractable problem to another. The recent spate of flood-level storms in Northern California brought attention to the Golden State’s ailing levees.

It would never dawn on the state’s political leadership to invest in infrastructure improvements before near-catastrophic failures stressed levees to the breaking point. Nor would it occur to them to invest in water infrastructure. Shortly before the storms, which brought nearly as much rain in three weeks as California had experienced in a year, the state was already facing another weather-related crisis: a mega-drought that led to water rationing.

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