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cover of episode L.A. Fires Place Enormous Pressure on Insurance Industry

L.A. Fires Place Enormous Pressure on Insurance Industry

2025/1/14
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A
Alexis Madrigal
A
Amy Bach
D
Dave Jones
E
Edward
J
Janet
K
Kathleen
M
Michael Wara
R
Russ
一位专注于dynasty幻想足球贸易分析的专家和播客主持人，积极参与Fantasy Cares慈善活动。
Topics
Alexis Madrigal: 加州野火对保险业造成了巨大冲击，房屋保险市场可能将永远改变。许多保险公司已经撤出加州的高风险地区，气候变化加剧了风险。 Michael Wara: 太平洋帕利塞兹的火灾对保险业造成了巨大的经济损失，这次火灾发生的地点是消防机构只能努力让居民撤离的地区。这次火灾的经济损失可能是美国历史上最大的野火相关损失。 Dave Jones: 主要保险公司并没有离开加州，而是暂停了新保单的承保。2017年和2018年野火造成的损失巨大，但保险公司在2019年到2023年期间仍然获得了承保利润。加州的严格保险监管确保保险公司能够盈利，并拥有足够的储备来应对灾难性事件。这次洛杉矶火灾的保险损失可能高达200亿美元。太平洋帕利塞兹的火灾是不可避免的，保险公司不应该以此为借口违反其继续在加州承保的承诺。再保险是保险公司的保险，其成本正在上升，与气候相关的灾害保险损失正在上升，再保险非常昂贵。加州公平计划（Fair Plan）是保险公司的最后手段，但其储备不足以应对大型灾害。如果公平计划资金短缺，将对市场上的所有保险公司进行评估。现在，如果公平计划资金短缺，纳税人将承担责任。 Amy Bach: 在高风险地区，许多人的保险范围比以前小得多。许多人不得不求助于公平计划，这导致保险范围更薄弱。公平计划有足够的储备、再保险和成员公司的资金来支付索赔。公平计划历史上从未对成员进行过评估，因此我们不知道如果需要进行评估会如何。许多人求助于鲜为人知的保险公司。 Janet: 我的保险被取消了，不得不加入公平计划，导致保险费用翻倍，公平计划的保险范围比以前更薄弱。 Edward: 我所在的社区参与了FireWise计划，但保险公司没有降低保费。 Kathleen: 我的保险被取消了，不得不通过一家不知名的公司购买保险，对这家名为Bamboo的公司表示担忧。 Russ: 我的保险费用在十年内增加了八倍，我在自家院子安装了储水罐，以应对野火。 Bianca: 小型企业在获得商业保险方面也面临着同样的挑战。

Deep Dive

Chapters
The recent L.A. fires have had a significant impact on California's home insurance market, which was already under pressure due to extreme weather events and climate change. Many insurance companies were already pulling out of the state, and the fires are expected to result in major financial losses for both private insurers and the state's fair plan. The situation is further complicated by the increasing risks associated with climate change.
  • L.A. fires caused major financial losses for insurers
  • California home insurance market was already under pressure before fires
  • Climate change is increasing risks for insurers

Shownotes Transcript

Even before the fires in Los Angeles, California’s insurance market was under enormous pressure. Extreme weather events like wildfires, which have been supersized due to climate change, previously led national carriers like Allstate and State Farm to stop writing new homeowners policies. And some property owners are facing non-renewal for homes deemed by insurance companies to be at risk. California is not alone in this dilemma. Florida has the highest insurance rates in the country, and its residents pay 37% more for coverage as compared to national averages. We’ll talk to experts about how these latest fires will impact the state’s insurance industry and the future of insurance in a climate change-charged world.

Guests:

**Michael Wara, **policy director, Sustainability Accelerator at the Doerr School of Sustainability, director, Climate and Energy Policy Program, senior research scholar, Woods Institute for the Environment; Stanford University

**Dave Jones, **former Insurance commissioner, California Department of Insurance; Dave Jones is the director of the Climate Risk Initiative at UC Berkeley’s Center for Law, Energy and the Environment (CLEE).

**Amy Bach, **executive director and cofounder, United Policyholders - a San Francisco-based nonprofit that advocates for insurance consumers.