While people are struggling to pay rising insurance bills and climate change is causing increasing property damage, insurance companies are generating record high profits. What can we do to shift this equation so the insurance industry actually provides adequate coverage to people and communities at rates they can afford?
Americans for Financial Reform Education Fund and Vanderbilt Policy Accelerator hosted a virtual talk with Brian Shearer of Vanderbilt Policy Accelerator, author of the paper, “How to Lower the Insurance ‘Tax’ By $150 Billion,” that looks at regulating insurance as a public utility. We learned about the origins of insurance rate regulation and how states can strengthen present day protections to make insurance affordable. We also explored the various ways insurance companies are skirting accountability, passing rising costs from the climate crisis on to their policy holders, spending billions on advertising and executives and padding their profits.
Brian was joined in conversation by Harvey Rosenfield from Consumer Watchdog and Sharon Lewis from CT Coalition for Economic and Environmental Justice, who walked through the impacts of these corporate practices on the ground and ways to shift the focus back onto individuals and communities that need relief after disasters strike.
Featuring:
- Brian Shearer, Vanderbilt Policy Accelerator
- Harvey Rosenfield, Consumer Watchdog
- Sharon Lewis, CT Coalition for Economic and Environmental Justice
Moderator:
Caroline Nagy, AFREF Associate Director of Housing Policy