Isabel Peñaranda Currie

This report was co-authored by @moira.bsky.social @ruthygourevitch.bsky.social, Tanaya Srini and me, and a joint effort of @cplusc.bsky.social and @climatecabinet.org, and had support from the @insurancefairness.bsky.social. Honestly one of the most inspiring groups I've been part of.🔥

The design of these insurers of last resort is a policy decision; that means it can be changed.
We recommend that FAIR Plans be improved to achieve the objectives of accessible and affordable insurance, and to better address the climate crisis. See the report for a full list of our recommendations:

Unfortunately, this is bad insurance design:
1) concentration of risk
- adverse selection, w riskiest policies
- geographic concentration, esp in Beach/Wind plans
2) no risk reduction
- linked to risky financial structures that require bailouts from all policyholders in the state (see CA)

They are designed to foster the private market through bylaws around non-competition, rate-setting, industry governance and depopulation (forceful transference of policies back to the private market).

FAIR plans began as a response to 1968 withdrawal of insurers from urban downtowns, as temporary fixes to lure companies back into abandoned markets. They were fundamentally designed for temporary gaps in the private market, not an intensifying climate crisis.

And yet while these are often presented as "state-run" insurers, FAIR plans are in fact most often private syndicate pools or other private associations, headed almost entirely by private insurance company execs. 86% of these plans are run by majority-industry reps.

As premiums rise and insurers refuse to offer new or renew existing policies, homeowners and businesses are increasingly turning to insurers of last resort. They're a big deal! 35 states have some version of theses insurers, and in 2024, they offered 3.3 MILLION policies, w coverage of $1 trillion

Insurers of last resort are state-enabled programs meant to provide insurance to properties that insurers refuse to cover. And yet in our @cplusc.bsky.social report, we find these plans are ill designed to meet their policy objectives, and are instead run by and for the private insurance sector 🧵

La mitad de los pagos iniciales para el canal de Panamá se hicieron en inversiones de JP Morgan en finca raíz en NYC, y ahora es un promotor inmobiliario Neoyorquino quien busca quitarle el canal a los panameños...

Me encantó colaborar con @phenomenalworld.bsky.social

I went on an ill-fated hike that kept me from hosting this episode; the silver lining is that i got to hear Sebastian Solarte interview Prof. Herrera as a listener, and learned SO much about what makes successful social movements+policy change, esp. around environmental harms. Check it out!👇🔥

The antics of the global populist right are intended to make us forget that theirs is a project of class+racial domination + that we must counter it on those grounds. @bhbradlow.bsky.social reminds us of the power of fighting for equality at the scale of the city +that a more just world is possible!

El dolor de la diáspora consiste en sentir destruidas nuestras comunidades; sentí a lo largo de estas conversaciones que el DeBÍ TiRAR MáS FOToS nos va a ayudar a tejerlas de nuevo <3

Espero que les guste este episodio, buena excusa para escuchar mucho reggaetón

Tell me you're redlining without telling me you're redlining

Bookshop.org enters the e-book arena, giving indie stores a new way to compete with Amazon "Everything Amazon can do, we want to do as well or better," says CEO Andy Hunter on boosting indie sales digitally.

This is VERY good news. Love bookshop.org and all the stuff they do!

www.salon.com/2025/01/28/b...

The possibility of resistance in this moment requires that we understand why so many Latinos supported Trump+possibly the most racist and explicitly imperialist iteration of the Republican party. On #Sur-Urbano, @williamcallison.bsky.social + I talk to Prof. Daniel HoSang on the multi-racial right.

Siento que las posibilidades de resistencia a este momento tan desolador requieren que entendamos por qué tantos latinos apoyaron a Trump, y el fenómeno de la derecha multi-racial. No se pierdan a @williamcallison.bsky.social y Daniel HoSang en #Sur_Urbano