Natural disasters including floods, hurricanes, and wildfires displace thousands of Americans each year and leave consumers and insurers on the hook for millions in losses to homes and other structures.
In a recent article in the Virginia Journal of Social Policy & the Law, California Western Associate Professor Kenneth S. Klein explores the growing problem of underinsurance, the complicated reasons behind it, and offers a proposal to better educate consumers while protecting the ability of insurers to compete in a free market. Klein looks to the ENERGY STAR program backed by the U.S. Energy Department and Environmental Protection Agency as a model for his “Coverage Guide” proposal.
