For a time now, it has seemed like the government has ignored the market and said, okay, as in the case with wildfires or floods in some part of the country, we will help. What do you think this is telling us that the government is willing to step in where companies won't? "It shows that there is again a tension between the business model and the public interest here," he says.
Two insurance giants will stop issuing new policies for California homes. CalMatters reporter Ben Christopher and Vox’s Umair Irfan say insurers have determined what homeowners refuse to accept: Climate change has made some parts of the country too risky to live in.
This episode was produced by Avishay Artsy, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Michael Raphael, and hosted by Noel King.
Transcript at vox.com/todayexplained
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