In world hurting from floods and fire, insurance firms won't offer bailout

If it becomes too expensive to cover losses for natural disasters, insurers will pull back toward areas that are more profitable.

There’s bad news for those looking for comfort in the face of flooding that’s inundated cities in China, Germany and India and wildfires that have consumed suburbs in California, Canada, and Australia: The insurance industry isn’t planning on hanging around to bail you out.
 

An insurance rescue mission is such a routine aspect of natural disasters in rich countries that the value of losses from major events is often as familiar as their physical characteristics, such as wind speed or Richter magnitude. The industry paid out $82 billion in such losses last year alone, according to Munich Re AG, and