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Insurance is supposed to average out small probability high impact events across a large number of smaller payments from more people. It is entirely expected to
by Xylakant 1y ago
Insurance is supposed to average out small probability high impact events across a large number of smaller payments from more people. It is entirely expected to loose money on insurance as a single customer - that's usually great. It means your house hasn't burned down, you're in good healt and you bike hasn't been stolen. If we're now moving towards a world where due to man-made climate change certain classes of risks are no longer insurable, everyone looses.
- esseph 1y agoI would think insurance would be among the least of worries?
- _carbyau_ 1y agoI think they are using Insurance as a predictive indicator of how terrible things are. So you are largely agreeing. IE: 1. insurance spreads a hurt across a society, using money as an instrument. 2. If insurance doesn't work anymore then the hurt is too large for society! This linking of 1 and 2 may not be entirely true due to insurance not necessarily being a perfectly efficient "spreader" across society. But I think in practical terms it is close enough.
- Xylakant 1y agoThe linking doesn’t need to be perfect to have real-world consequences: as the article explains, dues to increasing heavy weather events, home owner insurance is harder or even impossible to obtain. Without HOI, you won’t get a mortgage, because that would mean the bank partially enters into that risk. No mortgage means a lot of people cannnot afford to own a house or flat.
- throw0101d 1y ago> I would think insurance would be among the least of worries? Canary in the coal mine: * https://en.wikipedia.org/wiki/Sentinel_species https://en.wikipedia.org/wiki/Sentinel_species
- lazyasciiart 1y ago“If”?