Why insurers worry the world could soon become uninsurable

10 comments

1. Top insurers fear the climate crisis could soon outpace industry solutions, effectively threatening to make entire regions around the world uninsurable.

   Günther Thallinger, a board member at Allianz, one of the world’s biggest insurers, recently outlined how the world is fast approaching temperature levels where insurers will no longer be able to offer cover for financial services, such as mortgages and investments.

   Read more: [https://cnb.cx/45I15EA](https://cnb.cx/45I15EA)

2. Getting tired of those fearful, worrying doom and gloom official media posts in this sub.

3. Top insurers have done nothing to incite change on climate policy in America as they continue to extract massive profits, mostly just because they are the current capital controllers. We all know that insurance companies would be happy to cease to exist tomorrow and walk away with their money. Just greed.

4. Can they sue big oil? That’d be a wonderful power struggle of the ultra wealthy and oligarchs.

5. Unfortunately this means governments in these regions will pick up the tab. And because of industry-political collusion, policies to ensure sustainable development will be extremely slow to emerge. People will just keep building in fragile, disaster-prone patterns and then getting bailed out by the working taxpayers.

6. Uninsurable without making a fuckton of profit. Parasites.

7. Insurers should reinvest their money into lobbying congress to mitigate the effects of climate change, if they want their business models to survive

8. Insurers are concerned, and attempt to price coverage appropriately. States, in particular California, makes that difficult for insurers, though they’ve approved larger increases recently. Insurers are still writing policies when they can charge the necessary rates to make coverage viable.

   Also, rebuilding costs have skyrocketed due to inflation, labor shortages, code changes (so many things are now required), and permitting (10s of thousands is common), which aren’t only expensive, but often slow down rebuilding substantially.

   More government buyouts are inevitable along with tighter controls over zoning and approvals. Often local governments share much of the blame for allowing building in places they shouldn’t.

9. Oh no, insurers will have to spend the money I pay them for?! Call me shocked!

10. when i’m in a Least Important Consequence of Climate Change competition and my opponent is Insurance Companies Won’t Be Able to Profit From Selling Insurance for Financial Services, Such As Mortgages and Investments 

Comments are closed.