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As more Floridians turn to state's insurer of last resort, it seeks to raise rates

Jun 21, 2024
Citizens Property Insurance has a huge risk load as private insurers avoid the state. Many residents say coverage is already costly.
A home in the Florida Keys destroyed by Hurricane Irma in 2017. For insurance companies, the state's exposure to climate damage has been a dealbreaker.
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He assesses climate risk on the housing market, and he wants your attention

Jun 12, 2024
As people become more aware of living in vulnerable areas, home prices will gradually reflect that risk, says Tim Judge of Fannie Mae.
"We do need every state to have flood disclosures," says Fannie Mae's Tim Judge. Above, water from a flash flood surrounds a home in Thermal, California, after a monsoonal thunderstorm in September.
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Bad weather, bad news for homeowners seeking insurance in Texas

May 21, 2024
More severe weather events means higher rates and more Texans forced into state insurance plans.
Over the last year, Anna Stafford with the Texas FAIR Plan Association has seen a nearly 32% increase in people turning to last-resort insurance policies. Above, storm damage in Houston on May 17.
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GM was collecting and sharing drivers' data, often without their knowledge

Apr 25, 2024
A conversation with the reporter who broke the story, then found out she was among the drivers impacted.
"I was shocked, but at the same time, this is what drivers of GM vehicles had been telling me," said Kashmir Hill at the New York Times when she discovered her driving data had been collected without her recalling consenting to share it.
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You're not imagining it: Car insurance costs 22% more than it did last year

Apr 17, 2024
And people are increasingly shopping around for a better deal, according to new data from JD Power. Finding one is another matter.
Thanks to rising rates, people are increasingly shopping around to see if they can find a better deal on their car insurance, according to new data from JD Power. 
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Insurance premiums for fireworks displays are going up

Jul 5, 2023
The high cost and risk are causing some cities and counties to rethink their 4th of July shows.
Frederic J. Brown/AFP via Getty Images

For public good, not for profit.

Are insurers accurately pricing in climate change risk?

A Federal Reserve study suggests that states have largely decoupled homeowners rates from underlying risks, says Marketplace's Chris Farrell.
Natural disasters have increased in scope and scale, increasing costs but not always homeowners premiums. Senior economics contributor Chris Farrell expects reform to come to the market.
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For seniors who use medical cannabis, the expense can be considerable

Jun 16, 2023
More than three dozen states have legalized the medical use of cannabis products. But for some patients, it’s not an affordable option.
While insurance and Medicare will cover the cost for most FDA-approved medications, those who chose medical cannabis typically pay for it out of pocket.
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Cannabis businesses are booming. They're also having a hard time getting insurance.

Apr 20, 2023
Insuring a store full of a substance that's still illegal under federal law isn't cheap.
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