Posted on 06/27/2023 6:10:50 AM PDT by ChicagoConservative27
The insurance industry is increasingly wary of the risks presented by climate and natural disasters, prompting major firms to scale back their presence in more vulnerable states.
In June, Farmers Insurance announced in a company memo it will no longer write new property insurance policies in Florida, citing “catastrophe costs … at historically high levels.” Earlier in the month, AIG stopped issuing policies along the Sunshine State’s hurricane-vulnerable coastline.
Those followed State Farm, California’s largest single homeowners’ insurer, which in May announced a moratorium on new policies in the state, blaming “rapidly growing catastrophe exposure.” The decision came after years of devastating wildfires have sent insurance rates in California skyrocketing.
(Excerpt) Read more at thehill.com ...
Where’s the list of Climate Disasters?
1. The regulatory climate makes it impossible to do business profitably.
2. Tort and civil liability laws make insurance companies heavily exposed to massive judgements in questionable cases brought by shady lawyers.
I would say their CEO probably is a graduate of Harvard. There IS no hope, they say. So that need to take their 7 figure salary and get that big house next to the ocean and ride into the Sunset.
I’m dropping my homeowners insurance this morning. I just realized that when Mother Gaia gets very angry and destroys the world that my homeowners insurance has no meaning. I’m not worried. I have long been at peace with my Maker.
There is no climate catastrophe
the powers that be are not permitting the usual caretaking of the woods and dams and water.
So to ameliorate the risks.
Bastards
Just another citation for where all that printed virus $$ went (bribes to steer insurer decisions...decisions we all know are not rooted in reality or based upon any facts whatsoever).
https://news.fiu.edu/2022/the-big-reason-florida-insurance-companies-are-failing-isnt-just-hurricane-risk-its-fraud-and-lawsuits
The real catastrophe is 20% inflation.
Think about it, Home prices double in 5 years and your wages a and their premiums cannot keep on track.
Or housing prices come down to the point to where replacement can be done without insurance in certain areas.
It’s not the ‘climate’, it’s the cost of repairs. You can’t have 20% + inflation and try to be in a repair business/insurance. By the time you get an estimate and they start work the cost is already 20% higher at least, that means they bid contracts even higher.
It’s the economy stupid, not the weather.
Blaming “rapidly growing catastrophe exposure
Climate control fanatics create problem after yelling the sky is falling.
DUH
But a lot of the fires were caused by arsonists, not global warming.
Deep State dislikes competition.
Obamacare made private health insurance a nightmare.
Can’t wait to see what it has in mind for the rest of the insurance industry.
You can find a huge list of things blamed on c,imate change- thry blame everything on climate change from “stringer storms” to “prostitution” (apparently folks now have to turn to prostitution because crops are failing lol)
I’d list it here, but it would be a huge list. There seems to be nothing that climate change can’t do.
Wildfires/global warming/the scare de jour are the excuses.
Deep State wants to nationalize the insurance industry is the reason.
We have here one of N reasons (where N is a very large number) why journalism majors struggled to pass third grade science lessons - which is why they only could aspire only to journalism in hopes of employment.
Math is not only not their friend, it is an avowed enemy.
Hillary, Gates, Obama, Biden, Harris, Greta, Hochul,Kerry, must I go on?
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