Shift Key with Robinson Meyer22 Jan 2025

How Wildfires Destroyed California’s Insurance Market

The Los Angeles wildfires have killed at least 27 people, destroyed more than 17,000 structures, and displaced tens of thousands. In the next few months, the billions of costs in damage to homes and property will ripple through the state’s insurance market — and likely cause its insurer of last resort to run out of money.

Benjamin Keys has studied how natural disasters, rising sea levels, and increasing exposure to risk have driven up insurance costs nationwide. He is a professor of real estate and finance at the University of Pennsylvania’s Wharton School, and one of the country’s top experts on climate change, home values, and insurance markets.

On this week’s episode of Shift Key, Rob and Jesse talk with Keys about how California broke its insurance market, why insurance costs are rising nationwide, and how homeowners, home buyers, and communities can protect themselves. They dive into President Donald Trump’s dizzying first day of executive actions and how they’ll affect the future of energy development. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.

Mentioned:

Keys’ testimony to Senate budget committee about climate risks in the housing system

Keys’ research on climate risk in mortgage escrow data

This pre-wildfire reporting on California’s insurance system and the site of the Eaton Fire

Rob’s downshift; Jesse’s downshift.

This episode of Shift Key is sponsored by …

Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.

Music for Shift Key is by Adam Kromelow.

Hosted on Acast. See acast.com/privacy for more information.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(152)

Energy Secretary Chris Wright on Trump’s Pro-Nuclear, Pro-Fossil Fuel Agenda

Since taking office last year, the Trump administration has blocked renewable energy development and attacked climate change policy, prioritized fossil fuels and encouraged nuclear energy, and started...

25 Sep 30min

What Does The Nuclear Company Do?

In the past few years, something surprising has happened in American energy policy: States and utilities have started trying to build new nuclear plants.A new kind of company — the nuclear developer —...

23 Sep 53min

Starting a Giant Online Data Platform Is the Easy Part

America has some of the world’s best data about its own internal energy, industrial economy, and carbon emissions. That’s thanks to a federal agency called the U.S. Energy Information Administration, ...

16 Sep 35min

Shift Key Classic: What Is a Watt?

As we catch up from summer vacation, we’re bringing you a favorite from the Shift Key archive. We’ll be back in your feed with more fresh episodes starting next week.What is the difference between ene...

9 Sep 47min

How to Understand America’s Gigantic Natural Gas Buildout

The United States is staring down a natural gas buildout of gigantic proportions.Amazon wants to build what would be the country’s largest power plant in Texas — and run it entirely on natural gas. No...

2 Sep 50min

Trump’s Clean Energy Repeal Was Even More Costly Than We Thought

Two years ago, Donald Trump made an outlandish campaign promise: He would cut Americans’ power bills in half.It was a ridiculous, impossible pledge — but even so, the affordability problem didn’t need...

27 Aug 1h 3min

Who Pays for Wildfire Prevention? If You’re in California, You Do — in Your Power Bill.

California now has the most expensive electricity in the continental United States. It also has expensive housing … and an increasingly broken home insurance market.Are the three phenomena linked? The...

20 Aug 41min

Why This El Niño Looks Like a Monster

Every few years, the Pacific Ocean’s surface waters become especially warm near the equator, a climatic phenomenon known as El Niño.El Niño is a normal part of the climate system, but even in a normal...

12 Aug 47min