How to make things worse
January 23, 2024•61 words
Californian regulations forbid insurers from using the latest climate models to set prices, since protection would become more costly. Premiums must be based on the average payout over the past 20 years, rather than the latest science. Shying away from ambiguity is understandable. Sticking your head in the sand is plain foolish.
– The Economist, 15th July 2023