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This is the place for discussing the potential collapse of modern civilization and the environment.
Collapse, in this context, refers to the significant loss of an established level or complexity towards a much simpler state. It can occur differently within many areas, orderly or chaotically, and be willing or unwilling. It does not necessarily imply human extinction or a singular, global event. Although, the longer the duration, the more it resembles a ‘decline’ instead of collapse.
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3 - All opinions are allowed but discussion must be in good faith.
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Literally what's the fucking point of home insurance if it doesn't cover disasters?! What is it insuring?
Cool, I can get hurricane insurance in Iowa and meteorite insurance anywhere else! Fuck off.
The point is to give them money and they do everything to not help you or pay out
exactly plus most of human civilization lives near coasts and if they don't Im guessing wildfire country would be the next most populous.
Insurance is about protecting against unforseen events, if it's guaranteed to have a claim, you can't insure.
So hurricanes in Iowa and meteorite impacts. Cool.
What a good industry to leave in the hands of private interests!
Remember, most types of home loans require the borrower to secure property insurance.
Without the ability to get a policy written, some will not be able to close on home loans. Some will not be able to sell their house as no buyers can purchase the property.
The insurance issue is much bigger as it has the potential to lock people into the State for inability to sell and prevent those looking for homes from buying.
When unhindered climate change meets capitalism.
The social costs of carbon emissions are estimated to be around 300 $/t The US is emitting 14 tonnes per person and year. So the damage caused directly and indirectly to the economy is around 4,200 $ per person and year.
The corporations are not paying that. The normal people will and it is starting now. This is what the scientists and experts had been warning and continue to warn about. This is what republicans are fiercly and democrats also very much lying, denying and lobbying against. This will be the rich and corporations eating the middle class and poor.
The american people will be fucked by climate change. Whatever middle class remains for now will be eroded by the additional economic burden of paying up for the damages that will be caused directly and the lack of opportunity and development that will be caused indirectly. Just ask yourself if you could front an additional 200,000 $ over the span of your life.
This is why climate protests demand "system change not climate change". Bot the prevention of climate change and the adaption to climate change are impossible in the current economic system.
Oh no, how do the conservatives handle this free market acknowledging climate change?
Doesn't matter, "it's not caused by human activity, so we may as well keep drilling".
They say it’s because the companies are woke or blame insurance fraud. At least in Florida.
This is the best summary I could come up with:
Allstate said its climate risk mitigation strategy would include “limiting new [auto and property] business … in areas most exposed to hurricanes” and “implementing tropical cyclone and/or wind/hail deductibles or exclusions where appropriate.”
Hurricane Idalia brought severe flooding to Georgia and the Carolinas, and tore through parts of Florida that had never experienced direct hits from a major storm.
Natural catastrophes in the first six months of 2023 year in the United States caused $40 billion in insured losses, the third costliest first-half on record, Aon found.
That can prevent firms from pricing policies that accurately reflect risk, said Daniel Schwarcz, who studies insurance markets at the University of Minnesota Law School.
Typical home insurance policies cover damage from all manner of perils, including fire and smoke, wind and hail, plumbing issues, snow and ice, and vandalism and theft.
“Potential changes to the frequency and/or severity of weather-related catastrophic losses pose a risk in both the short and long term,” Nationwide wrote in its survey response.
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That's fine but you can't offer car insurance in those states either then.
They won't as we already see in Florida. It is not generating a profit for them anymore so they pull out of these markets.
Ive always said that the insurance industry will be the one that actually pushes changes since they are ultimately on the hook for the damages.
Can we make it until 2030?
No. Why? what changes then?
You mean we as humanity or what? Or our current system of capitalism?
The societal system
If one would ask me personally, I would say this:
There are so many cracks showing, that I tend to doubt it. But it is hard to say. While some groups in a society may see bigger problems in the future, others may even see improvements. The factors that play a role are too complex for me to judge. I have no doubt though that the average quality of life will go down substantially. I am actually counting on a collapsing system until 2045. I would really be very much surprised to see a continuation of today's ways until then. So much so that my retirement plans are not of great importance to me. I have them, but I do not expect to be able to use them.
ahahahahaha, I mean, meow.