Im still waiting for climate change isn’t real to be forcibly applied to insurance companies.
*… driven by greed
FTFY
Even without greed, even if these companies were non-profit, the risks would remain and the future would be uninsurable. Insurance costs need to be reduced by reducing the real risks: from not building in a tinder box to building fortified/resistant constructions. Yes, that is going to be much more expensive. That is the point too: the construction developers are grifting the buyers by selling constructions that don’t have a long-term future. People wouldn’t pay a boatload of money for temporary constructions, which is what is happening when you run the risk of storms or fires destroying your building every couple of years.
What this means is that building development needs to happen in safe places and with a high-density that reduces costs. The bourgeois lifestyle is not and can never be scaled up for the masses.
No insurer is going to take a large underwriting loss year after year
And as climate change accelerates and exacerbates natural disasters more and more areas of the US will become “uninsurable”.
