In the low-profile race for California insurance commissioner, Jane Kim wants to borrow from other countries to solve a crisis in the homeowner’s insurance market.
home insurance
Posted inEconomic Policy
New Reforms, Same Old Florida Home Insurance Market
Inflated ratings, weak oversight, and bare-bones consumer protections continue to leave homeowners exposed to the worst of Florida’s fragile, undercapitalized insurance market.
Posted inMoney, Politics, and Power
Home Insurance Executives Are Raking It In—at Your Expense
Performance-based pay packages incentivize claim denials and other harmful practices.
Posted inEnergy and the Environment
Climate Change Will Bankrupt the Country
Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.
Posted inEnergy and the Environment
Is Florida’s Migration Tide Turning?
Young people are leaving the state, and climate change’s impacts on the cost of living are contributing factors.
Posted inVideos
The Prospect Weekly Roundup: California Burning
On our live show, David and Harold talk about their common experiences on the Westside of Los Angeles, epicenter of the terrible wildfires raging across Southern California.
Posted inTAP
The Next Financial Crisis: Insurance
Today on TAP: Increasing damage from fires, hurricanes, and floods will destabilize a lightly regulated industry—and spill over into broader financial markets.
Posted inEconomic Policy
Big Banks Pick Inopportune Moment to Ditch Climate Commitments
As Los Angeles burns, the biggest banks have disclaimed membership in the Net-Zero Banking Alliance. Mother Nature won’t take pity on them.
Posted inEnergy and the Environment
Trump’s Attack on Government Capacity Will Fan the Flames of the Home Insurance Crisis
The U.S. Forest Service is already underfunded and understaffed. Slashing its resources further is likely to unleash more severe wildfires.
Posted inEconomic Policy
How Hurricanes Are a Profit Center for Insurers
To compensate for exaggerated expectations of claims, they jack up rates and hollow out coverage, giving themselves more profit than before.
