Climate Change Will Bankrupt the Country
prospect.org
Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.
  • yetAnotherUser@discuss.tchncs.de
    8·
    21 hours ago

    Insurance companies rarely go bankrupt as it requires insane incompetency to achieve this.

    Insurance companies work like casinos: Develop a probabilistic model to determine the average amount of claims per customer per region and then charge more.

    That’s why they are exiting regions where the expected yearly damages exceed what they are allowed to charge. Insurances are the first to exit a sinking ship.