Such rapid increases represent a risk that is on the same order of magnitude as many of the damage risks that the policies are supposed to address. In a study presented in early May at America’s National Bureau of Economic Research, the economists Dwight Jaffee, Howard Kunreuther, and Erwann Michel-Kerjan called for a fundamental change in policy aimed at developing true long-term insurance (LTI) that set insurance premiums for many years.