Debate: LA Fires – The Complexities of Insurance
Featuring: Jerry Theodorou is the Director of the Finance, Insurance, and Trade Policy Program at the R Street Institute, a public policy research organization. In this role, he develops and promotes free-market public policy solutions to complex issues involving federal and state government interventions.
In January, the LA area was ravaged by a series of devastating wildfires, notably the Palisades and Eaton Fires. Collectively there were over 16,000 structures destroyed, tens of thousands of evacuees, and 29 fatalities. Wildfires seem to be an annual event in California, destroying property and risking lives.
In today’s episode, we explore:
- How the insurance industry has coped historically with catastrophes.
- The current state of insuring property in places with high risks of events like fire, hurricanes, and flooding.
- The future of the insurance industry.
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