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What will happen is just the the federal government will subsidize and backstop the insurance. Look at flood insurance. The federal government subsidizes flood
by RcouF1uZ4gsC 7y ago
What will happen is just the the federal government will subsidize and backstop the insurance. Look at flood insurance. The federal government subsidizes flood insurance in some highly vulnerable areas, and when there is a big disaster, provides a backstop though massive infusion of money.
I think much the same thing will happen with climate related insurance.
- wongarsu 7y agoUS flood insurance is a great example of uninsurable homes existing and somehow being insured. It might not be economically sensible in most cases, but saving people's homes is a great way to get votes.
- SilasX 7y agoYep, a big chunk of the east coast/Gulf of Mexico is already uninsurable, and only inhabited (but its current non-wealthy residents) because of heavily-subsidized insurance: https://www.fema.gov/national-flood-insurance-program https://www.fema.gov/national-flood-insurance-program
- throwthisaway2 7y agoI dont understand why tech cant fix this. Cant we make some special homes for these areas.