The Government Backstop to Insurance Benefits the Rich

The cost of responding to these disasters and paying out claims on insurance has gotten so high that a lot of insurers have gone under. It's become impossible to ensure all the property that's at risk from hurricanes in Florida, to just too many people living in places that are too vulnerable. A lot of homeowners at the lower end of the income scale are now finding that it's very difficult for them to afford the cost of insurance.