Hillhater wrote: ↑
Aug 04 2020 8:25pm
Insurance is based on risk assessment,...cause analysis of known events, etc ..IE FACT based.
Another excellent point! Insurance companies take the fact based approach.
Holding the Bill
Insurance companies and lenders are responding to climate change — by shifting risk to taxpayers.
By Naveena Sadasivam on Mar 4, 2020
In a pair of little-noticed letters sent earlier this year, Ohio Senator Sherrod Brown and five other Democratic senators asked two giant organizations crucial to keeping the country’s housing market running how they were preparing for the destructive power of climate change. “If we are underprepared, climate change could have particularly devastating impacts on the individuals and communities who can least afford it,” the letter warned Fannie Mae and Freddie Mac, the government-supported companies that back roughly half of the country’s $10 trillion mortgage market. . . .Earlier this year, the head of the world’s largest investment firm, BlackRock, said that climate change is causing a “fundamental reshaping of finance.”
Climate change = insurance risk
The escalating frequency and severity of extreme weather-related events—from wildfires in the US, to record heat waves in Europe, to floods in Japan—have shone a brighter regulatory spotlight on insurance risk and climate change. One federal regulator in the US went so far as to suggest that the potential damage from climate change could end up being as severe as the fallout from the mortgage crisis triggering the 2008 financial crisis.
In fact, the Insurance Regulator State of Climate Risks Survey, conducted by the Deloitte Center for Financial Services, found:
A majority of US state insurance regulators expect all types of insurance companies’ climate change risks to increase over the medium to long term—including physical risks, liability risks, and transition risks.
More than half of the regulators surveyed also indicated that climate change was likely to have a high impact or an extremely high impact on coverage availability and underwriting assumptions.
So those fact based insurance companies are now taking the facts of climate change into account. Glad you agree.
Presumeably you mean Anthropogenic CO2 ?.... Which have NO CAUSAL linkage to warming ..OR even to the increase in atmospheric CO2 levels .!
CO2 is increasing in our atmosphere - fact.
It is from our burning of fuels - fact.
CO2 is a greenhouse gas - fact.
The climate is warming per predictions as CO2 rises - fact.
Awful lot of facts you have to deny to be a climate change denier.
Nobody KNOWS that CO2 causes warming as being suggested, many appear to BELIEVE it is so, but... it is only a THEORY,..not a proven fact.
Oh, it's a proven fact. You can do the experiment to prove it in a high school science lab.