When the right hand and the left hand belong to the same person but they don’t act like it is what this looks like.
Property insurance companies have been changing their behavior rather dramatically in the face of climate change. Their bottom line demands it. Mortgage providers, which have an underlying asset that is identical to that of the insurance company, are not changing their behavior.
This is problematic for a lot of reasons. For our communities, however, it could damage local government capacity significantly.