Price controls destroy wealth: California Fire Insurance

11 Jan 2025 Leave a comment

by Jim Rose in economics of natural disasters, economics of regulation, environmentalism, financial economics, income redistribution, law and economics, politics - USA, property rights, Public Choice, regulation, rentseeking, urban economics Tags:

Noah Smith via Marginal Revolution, and Kim Mai Cutler.  The CA insurance regulator is elected, and is reluctant to allow higher rates for fire insurance, despite the big risks, lest she be voted out of office.  As a consequence, expected profits are low, so a majority of top insurers have stopped issuing fire insurance in CA.…

Price controls destroy wealth: California Fire Insurance

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