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Ignorant, uninformed question: are insurance actuaries managing mortgages and properties following these updates? What is going to happen to families with land
by agentultra 7y ago
Ignorant, uninformed question: are insurance actuaries managing mortgages and properties following these updates? What is going to happen to families with land in areas that are going to be permanantly flooded in 10, 20, 30 years? Do we even have a plan for that?
- thfuran 7y agoAnd ~~where should I buy my house today to get a good deal on tomorrow's beachfront property?~~ how long until this starts having interesting effects on real estate prices?
- opportune 7y agoI think it's impossible to say, since if you were off by a single foot your property would be effectively worthless I believe sea level rise is already beginning to slow down the housing market in Miami
- sjf 7y agoI can't answer your question, but what will happen to the property market after sea level rise is a central part of Kim Stanley Robinson's book New York 2140. It is fascinating and I can highly recommend it.
- ergothus 7y ago> following these updates? Follow up from someone likewise uninformed: do they have an escape clause that means they can avoid paying out (act of God, etc) meaning that no one is actually directly accountable?
- challenger22 7y agoInteresting bit: during a press event recently, Warren Buffett was asked whether increasing climate-related catastrophes would hurt the insurance companies in his portfolio. The answer was, to paraphrase, that they would help the companies more than hurt them. Even in a particular year that has unforeseen high levels of disaster, the companies will quickly update their risk models and increase their premiums, essentially bringing in the same margins as before on a larger risk pool = more profit.