Unintended consequences of ingnoring global warming. On the other hand, how much profit is adequate for insurance corporations? If shareholder value is being built on the backs of people who can only afford manufactured housing, then it's obscene. That never stopped a capitalist from making a buck, however.
I would add that it's much more than a "belief", according to this report, it's more like fact.
""Spurring all of this is the belief that we're in for a prolonged period where we will have storms that are not only more intense, but also more frequent," said Robert Hartwig, chief economist for the Insurance Information Institute."
UPDATE: The SideKick suggests it may be in Intended consequence.