Splitting mortgage insurers

I still cant get this idea through my head..

So, you are an insurance company....

you insure Florida and north Dakota against hurricanes...

Suddenly there is a hurricane in florida.

so, you split the company North Dakota Hurricane
and Florida hurricane.

one goes bankrupt

the other is profitable.


This seems ridiculous....

but how do I get in on that kind of business model.... seems like an easy way to make money...