What Taxpayer Protection?

Beautiful river and coastal areas are often expensive places to live and few can afford high priced “beachfront” property for their primary residence or cottage.  Wind damage and flooding are obvious risks and the cost of insurance against those risks is far higher than elsewhere.  We extend our best wishes to those lucky people who […]

GAO Report Finds State Insurance Funds Expose Consumers and Tax Payers to Massive Costs; Set Rates Below Risk

Here comes another potential bailout. The newly released GAO report, “Natural Catastrophe Insurance Coverage Remains a Challenge for State Programs,” supports ACI’s conclusion that state funds “discourage private market involvement and mitigation.”  The report finds that some states are setting insurance prices below cost, driving out private insurers and putting nearly involvent state-run “public options” in their place.  […]