Home insurance rates are rising due to climate change. What could break that cycle?
She lives outside Yosemite National Park in California, where wildfires are becoming more frequent.
Her insurer of 31 years said the fire risk in her area was too great and simply declined to cover her anymore.
*stop short of ~의 바로 앞에서 멈추다, ~ 까지는 하지 못하다
*pull out 철수하다
Even if private insurance companies stop short of pulling out of a region, they're often raising premiums.
*-prone ~ 하기쉬운, 경향이 있는
*hurricane-prone 허리케인이 빈번한
+) injury-prone 부상을 입기 쉬운
+) accident-prone 사고를 잘 당하는
It's even more in high-risk areas like hurricane-prone Florida.
*eerily reminiscent of 섬뜩하게 떠오르는
*run-up 사전 단계, 준비기간
This all sounds eerily reminiscent of the run-up to the mortgage meltdown of 2008.
*holding a summit 정상회담을 열다
It is holding a summit to address the spike in home insurance costs.
This is just a gamble we're not going to be willing to take.
Do these two things correlate closely?
They are keenly aware of the impact.
*fruitful 유익한
It's been a very fruitful conversation so far.
*gouge 바가지를 씌우다
But have you also seen any evidence that insurance companies may be using climate change as an excuse just to gouge homeowners and hike prices?
The goal of the summit is to explore all of these different avenues.
*arbiter 중재자, 결정권자
*be at odds 뜻이 맞지 않다, 다투다
I know that you want to be a fair arbiter between parties that are sometimes at odds.
*pushback 반론
There's already been some healthy debate and pushback about whether or not some of these increases are truly representing risk.
*perch 입장
*count on 기대하다, ~에 의지하다
We can do what we need to do with the powers we have and the perch that we have to make a difference for the American people who are counting on us.
Home ownership can be daunting, but there is an order that things tend to follow:
If you're the average American looking to buy a home, you need a mortgage.
And in order to get a mortgage, you need homeowners' insurance.
But what happens to homeowners if an insurance company decides it doesn't want to do business where they live anymore? For Beth Pratt, who lives outside Yosemite National Park in California, that question has become a reality.