Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and market-based insurance. Topics covered include: The surprisingly large percentage of natural disaster losses that are uninsuredWhy natural disaster severity is increasingA deep dive into the complexity of the home insurance market, including state-run home insurance plansHow California has tried to update its home insurance regulations, leading to potentially greater coverage but higher premiumsHow socialized insurance relieves the cost burden to consumers but can also lead to riskier behavior and adverse risk selectionEpisode Sponsors Asset Camp NetSuite  Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes California wildfires: What we know about L.A.-area fires, what caused them, who is affected and more by Tim Stelloh, Marlene Lenthang, Rebecca Cohen and Phil Helsel—NBC News Climate change is showing its claws: The world is getting hotter, resulting in severe hurricanes, thunderstorms and floods—Munich RE Shaping the Future of Wildfire Insurance in California: New Insights from the Most Comprehensive Wildfire Risk Model in the Market by Firas Saleh—Moody's Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire by Jean Eaglesham and Sara Randazzo—The Wall Street Journal Commissioner Lara issues landmark regulation to expand insurance access for Californians amid growing climate risks—California Department of Insurance California Was Already in Home-Insurance Crisis Before Los Angeles Infernos by Jean Eaglesham and Joe Flint—The Wall Street Journal The World Is Getting Riskier. Americans Don’t Want to Pay for It. by Greg Ip—The Wall Street Journal Reinsurers little exposed to LA fires after retreat from disaster risks by Lee Harris—The Financial Times A Survey of Residual Market Plan Assessment and Recoupment Mechanisms by Nancy Watkins, Robert Lee, and Rehan Siddique—Milliman Related Episodes 481: How to Navigate the Crippling Home Insurance Crisis 444: Natural Disasters: Are They Truly Increasing?  Investments Mentioned Stone Ridge High Yield Reinsurance Risk Premium fund (SHRMX) See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In episode 506, Joshua shares the pros and cons of living outside of your home country. He convinces David why he needs more than one passport. Finally, Joshua makes a strong case for not retiring, and if one does, under what circumstances. Episode Sponsors Delete Me – Use code David20 to get 20% off Acorns Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes https://www.radicalpersonalfinance.com Related Episodes 446: Die with Zero: Why You Should Start Spending Now 437: How to Live Like You Are Already Retired 371: Find Your Retirement Investing and Living Style See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.