The wildfires scorching the region around Los Angeles are likely to be the most expensive in history. But, future climate change-related disasters will certainly top them in cost. Here are some steps…
And cap insurance profits & executive compensation instead of premiums. A cap on premiums makes insurance non-viable even for a non-profit if the risk is too high, while a cap in profits lets it be valued appropriately. The cap on executive compensation is needed because without that they’d raise premiums excessively & pay themselves the extra instead of accumulating that as company profit for their stock price.
And cap insurance profits & executive compensation instead of premiums. A cap on premiums makes insurance non-viable even for a non-profit if the risk is too high, while a cap in profits lets it be valued appropriately. The cap on executive compensation is needed because without that they’d raise premiums excessively & pay themselves the extra instead of accumulating that as company profit for their stock price.