Tuesday, January 28, 2025

More U.S. homeowners no longer have home insurance, 'leaving them exposed to financial ruin'

National Association of Insurance Commissioners and Federal Insurance Office, Department of the Treasury map

Whether it's tornadoes, wildfires, torrential rains, flooding or atmospheric rivers, extreme weather has carved a path of destruction across the United States. The collective losses caused drastic increases in home insurance costs, leaving some Americans unable to pay, "threatening what is, for many people, their most valuable asset," report Christopher Flavelle and Mira Rojanasakul of The New York Times.

New government data shows how increasing numbers of Americans have "given up on paying their insurance premiums, leaving them exposed to financial ruin," Flavelle and Rojanasakul explain. "The rising cancellation rates are part of a broader trend captured by the Treasury Department, which analyzed information for 246 million insurance policies issued by 330 insurers nationwide from 2018 through 2022."

How and when home policies get dropped depends on a variety of factors. For instance, some homeowners don't have a bank or lien-holder, so they can take the risk and drop their insurance. When policyholders fails to pay their premiums, their insurance company will cancel their policy for non-payment. Other homeowners lose coverage when their insurance company refuses to renew their policy. Without home insurance, homeowners are exposed to possible financial ruin and homelessness.

The rates of cancellations and nonrenewals "are increasing, and those increases are most pronounced in high-risk areas," the Times reports. "In more than 150 ZIP codes around the country, insurers canceled at least 10 percent of home insurance policies in 2022, the most recent year for which numbers are available because homeowners failed to pay their premiums."

While the new information doesn't explain why homeowners have stopped paying for their insurance, "Nellie Liang, the Treasury Department’s under secretary for domestic finance, said her team viewed it as an indicator of families facing growing financial stress worsened by climate change," Flavelle and Rojanasakul write. 

U.S. consumers get smacked with another round of food inflation. Egg prices spike and other costs follow suit.

U.S. consumers endure another round of
food inflation. (Photo by 青 晨, Unsplash)

It's déjà vu for American food costs. The price of eggs and other grocery items are increasing while American consumers face another soul-crushing round of food inflation. U.S. grocery costs "increased 1.8% from a year earlier in December, rising at the fastest pace in more than a year," report Patrick Thomas and Jesse Newman of The Wall Street Journal. "The cost of food overall was 0.3% higher in December, after increasing 0.4% in November."

Why this is happening -- again? "There isn’t one factor. Bird flu is killing chickens, cutting egg supplies and sending wholesale prices to a record," Thomas and Newman explain. "Extreme heat and dry weather in the world’s coffee-growing regions have sent the cost of brews surging. Chocolate and cereal makers have raised prices for their products, too."

It's a problem. "Consumers are still acclimating to a stretch of bruising inflation following the Covid-19 pandemic," the Journal reports. "Grocery prices in December were roughly 28% higher than they were five years ago."

While on the campaign trail, President Donald Trump promised to put a lid on grocery prices -- a promise that could prove difficult to deliver. "Some of the problems underlying food costs, such as disease and bad weather, don’t have quick policy fixes," Thomas and Newman add.

Even as egg prices climb, some egg producers are making hefty profits. "The index for eggs was up 37% from a year ago, and the average retail price of a dozen large eggs increased nearly 14% to $4.15 in December," the Journal reports. "Price increases have helped increase the profits of egg companies, including Cal-Maine, the largest U.S. egg producer, whose stock has doubled over the past year."

The price of meat has also increased but experts predict meat prices will level out. On balance, cocoa and sugar prices have surged. Thomas and Newman write, "A candy company recently said it would raise its prices by 10%." When asked about food inflation, Mark Skogen, CEO of Wisconsin-based Festival Foods, told the Journal, "It just doesn’t end."

Trump's choice for USDA secretary discusses tariffs, migrant workers and bird flu during confirmation hearing

Brooke Rollins
(Wikipedia photo)
The U.S. Senate's four-hour confirmation hearing with Brooke Rollins, President Donald Trump’s pick to lead the U.S. Department of Agriculture, gave the agricultural sector a good look at how Rollins might weigh in on many key farming decisions, reports Jennifer Shutt of States Newsroom.

During questioning, committee members zeroed in on U.S. agricultural trade and Trump's promised tariffs on major U.S. commodity partner products. Rollins responded, "I think it probably comes as no surprise to anyone sitting in this room that he believes it is a very important tool in his toolkit to continue or bring America back to the forefront of the world and to ensure that we have a thriving economy. . . . But just as he did and we did in the first administration, he also understands the potential devastating impact to our farmers and our ranchers."

Colorado Democratic Sen. Michael Bennet "told Rollins that he is 'sympathetic to some of the trade policies that President Trump is trying to advocate for . . . But agriculture’s already in a tough spot,'" Shutt writes. When asked how she would embrace her role, Rollins replied, "To defend, to honor, to elevate our entire agriculture community in the Oval Office, around the table, through the interagency process."

When questioned about U.S. poultry and egg production in the wake of the worst egg-laying avian bird flu outbreak in history, Rollins told senators, "'There is a lot that I have to learn on this. And if confirmed, this will be, as I mentioned in my opening statement, one of the very top priorities,'" Shutt reports. 

Senators asked Rollins "about how sweeping deportations might impact the agriculture industry and food supplies throughout the country," Shutt writes. "Senators also asked how she planned to keep the pipeline that moves food from farms to people’s tables from collapsing if mass deportations are carried out. . . . Rollins said she wants to make changes to the H2A visa for temporary agricultural workers, though she didn’t detail what those changes might entail."

Minnesota Democratic Sen. Tina Smith asked "about the Supplemental Nutrition Assistance Program, or SNAP, saying that nutrition programs, many of which are administered by USDA, are 'foundational for healthy Americans,'" Shutt reports. "Rollins testified that she does believe in work requirements, though she conceded she didn’t have extensive knowledge of the SNAP." 

Rollins looks poised to secure her Senate confirmation, but a vote date has not been set.

Hot, kick-in, chewy, meaty -- Americans have fallen in love with the 'meat stick'

Roughly 41 million U.S. households buy meat sticks
each year. (Adobe Stock photo)
Lunch pails, glove compartments, purses and toolboxes are favorite places for Americans to stash their new favorite snack: The meat stick.

The tasty lengths of protein have "come a long way since the original Slim Jim," reports Jennifer Williams of The Wall Street Journal. The snack has grown into a $3 billion business that has spiked fan controversy over its ever-growing smorgasbord of spiciness and flavors.

Among old and new meat stick lovers, "the flood of flavors and high-end options that has come with the snack’s rising popularity has divided fans," Williams writes. "Traditionalists, who prize the snack for its smoky simplicity, have a beef with the onslaught of choice. Other fans are being lured to a new breed of packaged offerings. . . Some won’t touch anything that didn’t come from a butcher — and please, whatever you do, don’t call it a meat stick."

Meat sticks are the go-to snack of choice for common and famous Americans. "Roughly 41 million households buy meat sticks annually," Williams explains. "Actress Jennifer Lawrence took Slim Jims — hot and mild — to the Oscars in 2014, an emergency nibble for the hourslong ceremony."

Slim Jim maker Conagra Brands purchased Fatty meat snack brands to create what "their executives call the 'trifecta smokehouse,'" Williams reports. "The acquisition beefed up a portfolio that already boasted the Slim Jim and Duke’s brands." Ashley Spade, vice president of Conagra's snacks, described meat stick sales as "explosive."

Meat stick choices include "jalapeño, taco-seasoned, teriyaki and dill pickle. Meat options range from beef to turkey, chicken and lamb," Williams reports. 

Some fans feed their meat stick needs with a trip to the local gas station, but others up the ante. "Sarah Steele goes to her local butcher. . . . Steele prefers her meat sticks to have a kick. And high-quality meat is a must." She told Williams, "I’m a meat snob, what can I say? But I don’t judge — if you enjoy it, eat it.”

Opinion: New administration can support farmers and improve rural America's economies with four 'key steps'

John Bode

Some American farmers and farm workers voted for President Donald Trump, and some didn't, but most are counting on support from the new administration.

In his opinion for AgriPulse, John Bode describes how agribusiness workers are "eager to pursue a more prosperous rural America." He outlines four "key steps" the new administration could draw upon, which he believes would support economic growth and development in many parts of rural America.

Removing limiting regulations is the first step. Bode explains, "Deregulation does not mean elimination of regulation. Regulations provide such essential assurances as product safety and environmental protection. But a stable, rational regulatory environment should also be friendly to economic growth."

Policy that supports U.S. electrical grid integrity and other energy needs is vital. "When Trump left office four years ago, the U.S. electric grid had an overall capacity that substantially exceeded peak demand," Bode adds. "The Federal Energy Regulatory Commission tripled its five-year forecast for peak electric demand. . . .Without bold policy action, America will likely experience rolling blackouts in the next five years. A reliable energy infrastructure is fundamental to economic growth."

Continuing tax cuts would help the American public, businesses and farmers. "Since the Tax Cuts and Jobs Act of 2017 was signed into law, the American economy has had access to robust pro-growth tax policy, " Bode writes. "But many of the provisions that have helped boost business and put more money in the pockets of American workers are set to expire at the end of 2025."

Advancing American trade policy is vital to rural growth. Bode explains, "I believe [the new administration] can achieve alignment with Canada and Mexico so the U.S.-Mexico-Canada Agreement may be refreshed to form a powerful economic platform to compete with China and other non-market economies. We should look past the dramatic tactics and focus on a strategy that advances American competitiveness."

John Bode is president and CEO of the Corn Refiners Association, the trade association representing the corn milling industry, and he chairs the Agricultural Policy Advisory Committee, which advises the Department of Agriculture and U.S. Trade Representative on trade policy.

Audiences want weather experts to live in their community. Media parent company agrees to keep local coverage local.

American audiences prefer local weather experts.
(Photo via AL.com)
The Weather Channel might be a great source for coverage of tornadoes and hurricanes for a national audience, but local audiences prefer TV weather experts who live and work nearby and understand their communities, reports Howard Koplowitz of AL.com.

That’s the takeaway from a recent decision – quickly abandoned – by Allen Media Broadcasting to have staff based at The Weather Channel provide local coverage for its TV stations across the country. Allen Media also owns The Weather Channel.

As WAAY (Huntsville, Ala.) General Manager Mike Wright told Koplowitz, “In a rare moment these days, the parent company actually listened to those of us on the ground in these markets where they own a station, like WAAY 31. . . . But what was more impactful was the feedback from the local community – the hundreds of you who took time to express your concern.”

Wright told Koplowitz, “I get it, there’s uncertainty with the economy at times and companies are scaling back. . . but some things you just can’t cut or compromise."

Allen Media operates 27 broadcast TV stations in 21 U.S. markets, AL.com reported.

Hillman Prizes honor reporting that leads to public policy changes; deadline to enter is Jan. 30

Since 1950, the Sidney Hillman Foundation has honored journalists who pursue investigative reporting and deep storytelling in service of the common good. (Hillman Foundation photo)

Journalists can enter a national contest that honors “the excellence in investigative journalism and commentary in service of the common good.”

The Hillman Prizes celebrate print, digital and broadcast reporting and commentary in the public interest that exposes injustice and leads to meaningful public policy change.

The deadline to enter is Jan. 30, and winners will receive a $5,000 honorarium at an event in New York City on May 13. There is no fee to enter.

The 2025 Hillman Prizes includes awards for:
  • Newspaper Reporting (story/series/multimedia — may include photo, video, graphics)
  • Magazine Reporting (longform; print/online)
  • Broadcast Journalism (TV, radio, podcast; at least 20 minutes in total package length)
  • Opinion and Analysis Journalism (commentary and analysis in any medium)
Entries must have been published or broadcast in 2024 and made widely available to a U.S audience. Submit nominated material and a cover letter here.

For more information, visit hillmanfoundation.org