The plans were designed to be temporary safety nets, the Journal report reads. As the private market shrinks, however, the plans are becoming insurers of first, not last, resort in some high-risk areas.
"These plans were really only supposed to be a break glass in emergency' type of a product," said Douglas Heller, director of insurance at the Consumer Federation of America told the Journal. "Now that the insurance industry is walking away from communities, we'd better have a much more robust and healthy public backstop."
By their nature, holders of last resort policies tend to come with higher ris...
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