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Is the world becoming uninsurable?

(charleshughsmith.substack.com)
476 points spking | 3 comments | 17 Jan 25 00:32 UTC | HN request time: 0.61s | source
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greenthrow ◴[17 Jan 25 02:14 UTC] No.42733349[source]▶
An hour in and nobody in these comments is addressing climate change? The risks of drought and the resulting fire or hurricanes and floods is much higher than it has been in recorded history in these areas because of climate change. Should people be forced to abandon their homes because the fossil fuel companies lied and misled the public and bought out our governments for the last 50 years?

IMHO we should be seizing the fossil fuel companies' assets and using them for disaster relief around the world due to the catastrophe they have deliberately caused.

The talk about insurance rates is a deliberate distraction.

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1. x0x0 ◴[17 Jan 25 02:23 UTC] No.42733408[source]▶
> The risks of drought and the resulting fire or hurricanes and floods is much higher than it has been in recorded history in these areas because of climate change

I saw an article on npr [1] which basically agrees with the chart on the blogpost. I 1980, there were 3 disasters a year that cost $1B, inflation adjusted. In 2024, 24. The second chart in the npr article is pretty terrifying.

[1] https://www.npr.org/2024/10/08/nx-s1-5143320/hurricanes-clim...

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2. AlexandrB ◴[17 Jan 25 04:38 UTC] No.42734143[source]▶
Without accounting for population growth in high risk areas this is meaningless. If the population and housing units in a floodplain doubles, a $500M 1980s disaster becomes a $1B 2024 disaster. That's not to mention the above-inflation increase in the cost of housing which probably bumps these numbers up as well.
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3. greenthrow ◴[17 Jan 25 16:40 UTC] No.42739957[source]▶
That is a red herring. The frequency and intensity of the wildfires has increased. Stop repeating fossil fuel talking points meant to distract from climate change.