Heather Gillers
Appearances
WSJ What’s News
Why No One Is Happy About Morgan Stanley’s DEI Efforts
Well, the biggest factor that has driven up insured costs related to convective storms is sprawl. As Americans have moved, as cities have grown, you might think about Denver or like the Dallas-Fort Worth area, Oklahoma City, Tulsa, all those cities have expanded and you have all of these homes and schools and businesses and places where previously it was just maybe grass.
WSJ What’s News
Why No One Is Happy About Morgan Stanley’s DEI Efforts
And so, of course, that means that hail can do a lot more damage.
WSJ What’s News
Why No One Is Happy About Morgan Stanley’s DEI Efforts
Insurance in the U.S. is regulated on a state-by-state basis. States like California are a lot more aggressive on regulation. But particularly in the center of the country, in places like Oklahoma, often state regulators have a really tough dilemma because on one hand, they want to keep insurance affordable for people.
WSJ What’s News
Why No One Is Happy About Morgan Stanley’s DEI Efforts
And then on the other hand, they want to make sure that insurers don't leave because, of course, this is a business. And if they are paying more year after year after year for damage than they're getting from premiums, they may not want to be in Oklahoma anymore. And that's a very real concern.