the premium
June 19, 2025 4:36 PM Subscribe
"This nationwide spike in insurance premiums—which rose by 11.4 percent last year, 11 percent in 2023, and 5.4 percent in 2022—has similarly come amid an onslaught of weather-related disasters. Insurers have pleaded with statewide regulators to allow them to raise rates because of larger than usual payouts, citing mounting losses from wildfires and hurricanes and in some cases threatening to even pull out of some states entirely. As they’ve raised premiums, though, U.S. property casualty insurers have quietly raked in record profits." Kate Aronoff, The $1 Trillion Climate Problem Republicans Are Ignoring.
It sure feels like they're trying to do the same thing to health insurance that the climate is automatically doing to house insurance.
posted by aubilenon at 5:05 PM on June 19 [2 favorites]
posted by aubilenon at 5:05 PM on June 19 [2 favorites]
The cost of a mortgage itself is already quite high, making ownership a fleeting dream for many. Even once you have payments figured out, year over year increases in premiums bump up escrow payments and thus the monthly bill.
I think my monthly payment has gone up some $500 (each month) over three years. While I am lucky to be able to budget for this, I can imagine people just trying to make a mortgage work get unpleasantly surprised and some have to wonder how to make it work.
Worse still, state regulators are in the tank for insurance companies and approve their rate hikes every year. It's the very definition of a captured market — if you need a home or car, and most do, you have to pay into a for-profit scheme that raises rates without much oversight.
posted by They sucked his brains out! at 5:08 PM on June 19
I think my monthly payment has gone up some $500 (each month) over three years. While I am lucky to be able to budget for this, I can imagine people just trying to make a mortgage work get unpleasantly surprised and some have to wonder how to make it work.
Worse still, state regulators are in the tank for insurance companies and approve their rate hikes every year. It's the very definition of a captured market — if you need a home or car, and most do, you have to pay into a for-profit scheme that raises rates without much oversight.
posted by They sucked his brains out! at 5:08 PM on June 19
That's the thing. While the Trump admin is pretending to solve the simplistic fake cartoon problems they created themselves, we still have real problems. Like the cost of housing. Like the cost of housing insurance. Like the pharmacy benefit managers. Like the cost of healthcare. None of these problems are being solved at all. This admin is incapable of solving problems because they're incapable of leading, the only thing they can do is entertain.
posted by subdee at 5:18 PM on June 19 [1 favorite]
posted by subdee at 5:18 PM on June 19 [1 favorite]
Trump says FEMA to be wound down after hurricane season - "Trump's comments were among the most direct to date indicating his intention to significantly downsize if not outright eliminate FEMA, which has an annual budget of around $30 billion and employed more than 20,000 people, including reservists, prior to layoffs earlier this year."
posted by kliuless at 5:19 PM on June 19 [1 favorite]
posted by kliuless at 5:19 PM on June 19 [1 favorite]
« Older You Gotta Receipt For That?
posted by doctornemo at 5:03 PM on June 19 [1 favorite]