Why are insurers fleeing California?
Tangle
Isaac Saul
4.8 • 672 Ratings
🗓️ 5 June 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
California home insurers. Last week, State Farm said it would stop selling new insurance policies to homeowners in California as of May 27, citing "historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market." The decision leaves Californians without one of the largest insurers in the country and the leading provider of homeowners insurance in the state, worsening the problem for residents already struggling to keep up with costly home insurance. Liberty Mutual and Allstate, other prominent homeowners insurance companies, have also left California.
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Transcript
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| 0:34.5 | From executive producer Isaac Saul, this is Tangle. |
| 0:44.8 | Good morning, good afternoon and good evening and welcome to the Tangle podcast, the place we get views from across the political spectrum, some independent thinking and a little bit of my take. |
| 1:00.2 | I am your host, Isaac Saul, and on today's episode, we are going to be talking about the insurance issues in California. |
| 1:08.4 | A little bit of a wonky story, but also something that touches a lot on |
| 1:14.4 | climate change, regulatory policy, some of the things that are happening in California that |
| 1:18.9 | might start happening in other states. It's actually really interesting, though it seems pretty |
| 1:23.7 | dry and boring on the face of it. Before you jump in, though, I do want to start with a little |
| 1:29.5 | clarification. Over the course of the last year, Tangle has cited the work of the Daily Beast |
| 1:35.7 | Matt Lewis on at least three occasions in the newsletter and the podcast under what the left |
| 1:41.6 | is saying. Several readers have pushed back on this placement, |
| 1:45.0 | arguing that Lewis's track record as a conservative should dictate that his writing be included |
| 1:49.5 | under what the right is saying. His opinion pieces in the last year or so have mostly been |
| 1:54.7 | critical of Republicans and former President Trump, and Lewis contributes to the Daily Beast |
| 1:59.9 | a very solidly left outlet. |
| 2:02.2 | However, his career has centered on conservative advocacy and commentary, and he describes |
| 2:07.5 | himself as a center-right critic of American politics. Therefore, we'll include Matt's |
| 2:13.1 | commentary under what the right is saying in future editions. Tangles policy, to be clear, is to categorize |
| 2:18.7 | arguments based on the ideological history of the writer, not the publication or specific |
... |
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