Property insurance rates are an effective deterrent, if allowed to function. It's FedGov that offers subsidized volcano insurance.https://twitter.com/matthew_d_green/status/906681123794800642 …
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It doesn't help to speak of 'underestimat(ing) risk' w/o understanding how risk estimates actually get transmitted -- via insurance prices.
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Some people will always make bad bets. Our politicized/"democratic" flood insurance program makes the problem vastly worse.
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But in a competitive market, people making bad bets drive a race-to-the-bottom.
End of conversation
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.