Prof. Daniel Schwarcz Contributed an Op-Ed for The Hill About an ‘Obamacare’ for Homeowners Insurance

Professor Daniel Schwarcz, Fredrikson & Byron Professor of Law and Distinguished University Teaching Professor, shared in an op-ed for The Hill his thoughts of Obamacare-style approach to homeowners insurance in light of natural disasters that have affected the U.S. He wrote, “In the wake of the devastation caused by Hurricanes Milton and Helene, it has become painfully clear that the financial security of millions of Americans is under threat, not just from extreme weather, but from the crumbling homeowners insurance system. ... What’s happening in homeowners insurance markets today echoes the dysfunction we saw in health insurance markets before the passage of the Affordable Care Act, commonly known as Obamacare. Before Obamacare, millions of Americans faced rising costs, coverage denials for preexisting conditions and confusing, inadequate health plans. The law tackled these issues head-on with a cooperative federalism approach, leveraging both state and federal expertise to create affordable, accessible health coverage. It’s time we took a similar approach to homeowners insurance, which is currently regulated solely by states but demands broader federal intervention to address today’s climate challenges.”