Lawrence Powell

Jan 12, 2025 | laweconcenter.org | Lawrence Powell

ICLE Academic Affiliate Lars Powell was quoted by Newsweek in a story about State Farm and other property insurers exiting the California market ahead of this year’s tragic wildfires. You can read the full piece here. Assuming State Farm followed its policy provisions, its actions were legal. If the law is applied fairly and accurately, they will not face any legal exposure.

Nov 14, 2023 | laweconcenter.org | Lawrence Powell

Wall Street Journal – ICLE Academic Affiliate Lars Powell was quoted by the Wall Street Journal in a story about Alabama’s insurance market. You can read full piece here. Home-insurance premiums in the counties have fluctuated but generally declined in recent years, according to data compiled by Lars Powell, director of the Alabama Center for Insurance Information and Research at the University of Alabama.

Sep 27, 2023 | laweconcenter.org | Elizabeth Lincicome |Lawrence Powell |R.J. Lehmann |Ian Adams

PORTLAND, Ore. (Sept. 27, 2023) – As California leaders move to take emergency action to stabilize its rapidly collapsing market for property insurance, a new International Center for Law & Economics (ICLE) white paper examines the role that the state’s 35-year-old Proposition 103 has played in leaving the state unable to keep pace with national trends and product innovations.

Sep 27, 2023 | laweconcenter.org | Lawrence Powell |R.J. Lehmann |Ian Adams |Julian Morris

ICLE White PaperExecutive SummaryCalifornia voters passed Proposition 103 in 1988. Since that time, California’s insurance market has struggled to keep pace with national trends and product innovations. The problems with the regulatory regime Prop 103 created most recently came to a head with the Sept. 21 announcement by Gov. Gavin Newsom that he had issued an emergency executive order to stabilize the state’s rapidly deteriorating market for property insurance.