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👇 Spend three minutes reading this 917-word newsletter to learn about:
Just how rich homeowners insurers are getting off your premiums.The fight to stop Elon Musk from poisoning Tennessee.How the Trump administration could soon control one of the country’s greenest energy markets.Why your 401(k) may become private equity’s new “dumping ground.”
TODAY’S NUGGETS
🏠 Profiteering pays off. Performance-based pay packages have seen home insurance executives showered in lucrative awards at the expense of homeowners, driving premiums sky-high and making the industry more profitable than ever, The American Prospect reports. Homeowners insurers’ profits exploded to $167 billion last year, up 330 percent from 2022. That means C-suite pay is up: At nine of the biggest home insurance companies in the U.S., executives on average were given a 30 percent raise over 2023, collectively earning $310 million in 2024, a Public Citizen and Revolving Door Project analysis finds.
Home insurance premiums have increased 24 percent since 2022, amounting to a combined $21 billion price hike for homeowners.
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