This article from Bloomberg analyzes the dire repercussions of climate change on California’s insurance sector. With escalating wildfires and private insurers withdrawing from high-risk zones, the state faces an imminent financial crisis. South Carolina’s own, Robert Hartwig aptly notes, “We’ve been incentivizing people to locate properties in hazard-prone areas for many decades. It’s a legacy that we’re going to have to deal with.” Despite the surging liabilities of state-run insurance plans, there is a glaring absence of concrete strategies to manage post-catastrophe deficits. As policymakers grapple with mounting challenges, the resilience of communities and the imperative for climate-conscious reforms emerge as pivotal factors in securing California’s future. Read more about the article by clicking here.