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The governor also says he will likely tap into the state’s “rainy day” reserve to draw down hundreds of millions of dollars to balance the state budget.
The analysis, “Who Pays for Climate Disasters?,” reveals a system in retreat, leaving residents vulnerable as private insurers abandon markets and shift costs to the public.
The choice before us is whether we will allow a billion-dollar annual loss to erode our common foundation, or whether we will act to preserve it—for every family, and for generations to come.