3 ms·
You're comparing theoretical future risk to a bunch of burnt out homes that keep getting burned down.
by vorpalhex 3y ago
You're comparing theoretical future risk to a bunch of burnt out homes that keep getting burned down.
- toomuchtodo 3y agoI don’t come up with the math, insurers do. Make your case to the folks whose solvency and reinsurance coverage depend on accurate risk prediction. https://subscriber.politicopro.com/article/eenews/2023/03/23/experts-climate-change-is-destabilizing-insurance-industry-00088384 https://subscriber.politicopro.com/article/eenews/2023/03/23... > The president of one of the world’s largest insurance brokers warned Wednesday that climate change is destabilizing the insurance industry, driving up prices and pushing insurers out of high-risk markets. > Aon PLC President Eric Andersen told a Senate committee that climate change is injecting uncertainty into an industry built on risk prediction and has created “a crisis of confidence around the ability to predict loss.” > Reinsurance companies, which help insurers pay catastrophic losses, “have been withdrawing from high-risk areas, around wildfire and flood in particular,” Andersen told the Senate Budget Committee. > He added, “Just as the U.S. economy was overexposed to mortgage risk in 2008, the economy today is over exposed to climate risk.” https://www.eenews.net/articles/growing-insurance-crisis-spreads-to-texas/ https://www.eenews.net/articles/growing-insurance-crisis-spr... > Florida came first. Then Louisiana. > Now an insurance crisis that has swept across the Gulf Coast is spilling into Texas, where increasingly scarce property coverage has forced tens of thousands of coastal homeowners to buy policies from a state-chartered insurance program.