US states have set up insurers of last resort in disaster-prone areas which private insurance has avoided. Amid more frequent disasters, these insurers are experiencing record signups. The financial burden is becoming a problem. Visual explainer with Soumya Karwa. www.reuters.com/graphics/USA...

Private insurance won't cover houses in areas increasingly prone to natural disasters like wildfires or hurricanes, so they're covered under insurance plans of last resort, known as FAIR plans. Read how the insurance fix is becoming a problem ➡️ reut.rs/44ldWvs

U.S. states have set up insurers of last resort in disaster-prone areas that private insurance has avoided. As disasters become more severe and frequent however, these insurers are seeing a surge in signups. The financial burden is becoming a problem.

Some stories we've published while everyone was enjoying the blue skies:

On Dec. 3, 2024 at 10:23 p.m., South Korea’s President Yoon Suk Yeol declared martial law. Six hours of chaos followed. www.reuters.com/graphics/SOU...

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Happy birthday to the Times Tech Guild, who won their election two years ago. But they still don’t have a contract. I and the rest of the NYT Guild stand with them and demand that the company stop delaying and bargain in good faith.