Insurance, when prices are based on risk, sends clear signals about the relative safety of behaviors and can alter consumer choice for a safer and more stable society. But when certain parties seek protectionist policies to socialize risk, responsible people end up paying for the risky choices of others.

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Reinsurance Proposal Troubling

As Floyd moves up the coastline, it appears that most property owners have dodged the burden of potentially devastating losses that could stress private-insurance markets:…