Flamingo Park is a delightful part of West Palm Beach, but it’s more or less at sea level. So when hurricanes or just inclement weather create storm surges, houses tend to flood. And as they get more frequent, US insurance companies are taking fright. The trend has been in evidence for years, but premiums are now spiking dramatically. The WSJ has the story of James and Laura Molinari, transplants from Chicago, who got a renewal rate from their existing insurer last month of $121,000 to cover their modest (by local standards) home for just one year. That was seven times their rate last year and 13 times what they paid in 2019. So they’re selling up and moving out. So are dozens of their neighbours. Premiums in Florida have tripled on average in the past five years, and many homeowners whose houses are worth less than $1 million pay less to service their mortgage than they do for insurance.