Let the market, not government, set weather insurance prices

Extreme weather events and natural disasters are colorblind. Hurricanes, tornadoes, and wildfires strike red states like Florida and blue states like California. In turn, we should let the market do its job, allowing businesses and households to make decisions about mitigating the risks of extreme weather events. That approach will mean the federal government doesn’t have to keep borrowing from future generations to deal with the unknowable.

Where will hurricanes strike? Will the mountain ranges of the West and the East experience more wildfires because of rising temperatures? Will tornadoes become more powerful across the central regions of the country? Are all geographies of the United States becoming more vulnerable to extreme rain events and flooding because of rising global temperatures?

We don’t have conclusive answers about weather and climate. But that’s not the…

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