For reinsurance, yes. It is one (worldwide) market.
We are not talking Reinsurance. Reinsurance doesn’t insure people, it insures the Insurance companies.
1 Like
No, that would be an absurd statement. I said no such thing. Risk varies all over the place, even within states, and even within localities (for example here in south Florida, there’s a big difference if the house is east of I-95 or west of I-95.)
Of course not! But sometimes, some of the money paid by Nevadans to their insurance company eventually covers disasters in CA, FL, OK, etc. Either directly within the insurance company reserves/claims mechanisms, and certainly with the cost of reinsurance that nearly every insurance company uses on a regular basis.
1 Like
Reinsurance is factored into the cost of each state’s policies. No reinsurance means far less available insurance (if any).
1 Like