Some insurance companies are either raising rates or cancelling insurance on people who live in coastal buildings which may not pass safety certification. This, in the wake of the recent collapse of the Champlain South condominium building in Surfside, Florida.
This decision has relevance In places where the COVID pandemic infection rates are high due to lack of vaccination acceptance. Fear and misinformation seem to have politicized this issue against reason and science. Even incentives do not work to persuade some people to ensure their health—and others’ health—by getting vaccinated.
So, if incentives will not work, what will? Perhaps, if health insurers take the cue from property insurers and raise rates on those who choose not to be vaccinated, or cancel insurance which might pay for their treatment if they get COVID or its variants, more people will decide to become vaccinated rather than pay a premium for choosing not to. This may raise the numbers of vaccinated people to the point that the virus’ threat will be vastly diminished through “herd immunity.”
The cost of COVID treatment is very expensive. I am vaccinated and would not want my premiums to rise to pay for those who become ill due to fear and misinformation. Would you?