"The issue painfully learned down south is that insurance for homeowners in cosatal areas subject to hurricanes is simply no longer feasible."
Nonsense. If you have a million customers paying $2,000 a year for insurance thats $2,000,000,000. Thats enough to rebuild the 6,700 of the average homes. I've been here 9 years and thru 5 hurricanes with no damage.
Its about the insurance companies not having a guaranteed profit and not managing their risk properly. Otherwise known as greed.
The company also has overhead cost and again by state law, must maintain massive funds in reserve for claims.