by Amy Bach

“Public dollars also need to go to the equally important, though less glamorous projects and services that will help us prepare for the coming heavy weather.  That includes things like hiring more firefighters and improving storm barriers.  And it means coming up with new, nonprofit disaster insurance programs so that people who have lost everything to a hurricane or a forest fire are not left at the mercy of a private insurance industry that is already adapting to climate change by avoiding payouts and slapping victims with massive rate increases.  According to Amy Bach, cofounder of the San Francisco-based advocacy group United Policyholders, disaster insurance is becoming “very much like health insurance. We’re going to have to increasingly take the profit motive of the system so that it operates efficiently and effectively, but without generating obscene executive salaries and bonuses and shareholder returns. Because its not going to be a sustainable model.  A publically traded insurance company in the face of climate change is not a sustainable business model for the end user, the consumer.”  This Changes Everything, by Naomi Klein, Simon & Schuster, 2014

Read more in our Advocacy and Action program Climate Change and Insurance Guide

 

About The Blogger

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. She co-founded United Policyholders in 1991 and serves as the organization's Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous publications including "The Disaster Recovery Handbook", "WISE UP: The Savvy Consumer's Guide to Buying Insurance" and consumer tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach is in her eighth consecutive term as an official consumer representative to the National Association of Insurance Commissioners, and is a member of the Federal Advisory Committee on Insurance.