Lawmakers’ approach to the insurance crisis is counterproductive

The climate change-driven home insurance crisis in the U.S. is accelerating.

This week, Allstate announced it will no longer write new home insurance policies in California, saying that the risk of wildfires has grown out of proportion with the premiums the company is able to charge. State Farm made a similar move last week, following AIG last year. Insurers are also bailing on other vulnerable states: Most in Florida and Louisiana have either left or gone bankrupt. And where insurance is still available, prices are skyrocketing: Since 2015, average rates in Florida have spiked...