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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State Insurance Programs Flawed

The Times argues that the federal government should provide a "backstop" for state insurance funds like the California Earthquake Authority. The Times is wrong. States like Florida…

Insurance