Posted on 12/30/2018 11:08:21 AM PST by rktman
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"Ice isn’t melting in the Arctic and Antarctic, yet big insurance rate hikes on coastal properties loom for purported sea level rise."
The theory is that melting ice at the earth’s polar regions will swamp us. And that is triggering moves to raise insurance premiums on coastal properties that are supposed to be flooded, in low-lying coastal places like Florida, as the Sun-Sentinel writes:
In just two or three years, Congress may change the way it sets rates in the Federal Emergency Management Agency’s National Flood Insurance Program (NFIP) to reflect more realistic assessments of risk, including the expected impacts of sea-level rise.
According to the chair of Miami’s Sea Level Rise Committee, FEMA officials believe the largest provider of flood insurance in the United States will be aligning the cost of premiums much closer to the heightened risks of flooding. And that the changes will come sooner than many expect.
(Excerpt) Read more at americanthinker.com ...
The ideal insurance business marketing position...insure against things that will NEVER HAPPEN. Always a money-maker.
BINGO. All kinds of HUGE money to be made off of glow-bulls**t-warming. I hadn't picked up on this particular ripoff.
Goldman Sachs has set themselves up to be the middle-man for carbon credit transactions. It's set up and ready-to-go on the Chicago Mercantile.
They will make gazillions when the very air we breath is finally taxed.
Since it already is water-borne, existence (or melting) of sea ice in the Arctic has exactly zero impact on sea level.
It has never happened in our geological era ... never! I really want some of that asteroid insurance, better chance of that happening I think.
I thought that that problem had been “SOCIALIZED” and we were all donating to “THE RICH” on their oceanside villas thru the “GUBMINT” flood ins pogrom..make that program...LOL
Actual sea level is 2.1 mm per year, 3/4 inch per decade. Been steady at that rate since the 1920’s.
“Ice isn’t melting in the Arctic and Antarctic, yet big insurance rate hikes on coastal properties loom for purported sea level rise.”
Excellent! The east and west coast liberals believe in the global warming bull shit so let them pay.
Shish,quiet down...That’s top secret that ice takes more room than water...Ur gonna upset the Ins Agents Union...LOL...
Coastal flood insurance is taxpayer supported so people pay a low premium. This allows the celebs to build their Hamptons mansions and you and I are on the hook when the Atlantic foes a number on them.
The issue is hurricanes. We had a period in the near past when we had no hurricanes. And we had huge droughts in Texas and surrounding states. Natural variability of climate.
We have since had some very big hurricanes and in a single 1-1/2 month span of time our part of Texas received 24” of rain. That is almost our normal annual rainfall.
Not chicken little sky is falling.
Even if I was worth a billion there’s no way I’d ever live right on the ocean.I’d live within 5 or 10 miles but no closer.And neither “climate change” nor insurance premiums have anything to do with it.
Yup. And I’m sitting around 5,000 ft elevation.
Wanna bet Agore and “climate change” shills have a big interest in flood insurance stock and Federal required flood insurance areas?
My area has a business district near the port, very close to sea level. Since they built it on an estuary, it is very close to being a swamp. It is sinking into the swamp by normal forces...gravity and weight built on muck. Yet, knowing that fact, they continue to blame global warming even though by their own figures muck is ten times more responsible.
DK
Afaik there essentially is no private flood insurance. It doesn’t exist as a product.
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