Economist Podcasts
A run for cover: LA’s fires and insurance
Jan 13, 2025
Shishan Joshi, Defense Editor for The Economist, discusses the complexities surrounding women in combat roles, addressing misconceptions and emphasizing their contributions. Catherine Nixie, Culture Correspondent, dives into the dark origins of children's literature, questioning the appropriateness of sanitizing classic tales like Cinderella. They also explore how California's fires expose insurers' pricing challenges amidst climate change, reflecting on broader urban planning and regulatory issues.
26:03
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Quick takeaways
- The California wildfires highlight the insurance industry's struggle to adapt to climate change risks, leading to a coverage crisis for residents.
- Pete Hegseth's views on women in combat ignite debates about gender equality in the military, challenging traditional beliefs about physical capabilities and unit cohesion.
Deep dives
The Impact of Wildfires on California's Insurance Market
Wildfires in California are leading to significant challenges within the insurance market, exacerbated by climate change and regulatory measures. Major insurers like State Farm have begun pulling out of the state entirely due to the financial risks associated with wildfires, leaving many residents without coverage options. The Fair Plan has emerged as a non-profit insurer of last resort, but this plan is becoming overwhelmed as it takes on a larger portion of the market. The overall economic losses from these wildfires are estimated at $50 billion, with the insurance industry facing insurmountable financial hurdles as claims increase and coverage becomes more limited.
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