Wealth Redistribution Takes a New Form

In my naivete, I once thought insurance premiums were calculated based on asset risk class. That is, if I lived in an area likely to get hit by a tornado, my risk would be higher for homeowner's insurance. If I build in a flood plain I would expect to pay more for insurance. If I build a house on the beach in Florida, I would expect to pay insurance premiums out the nose because of the likely event of facing a hurricane. Some people don't see it that way.