Dec 31, 2024 09:17 PM
Can insurance as we know it survive climate change?
https://www.anthropocenemagazine.org/202...te-change/
EXCERPT: The basic premise of insurance is that the premiums of the many pay for the losses of the few. But what happens when the few become the many, and losses reach for the sky?
In one scenario, vulnerable parts of the world become completely uninsurable, and economic and/or natural forces dismantle communities. Adaptation happens, but it’s painful. In another, insurance is just too big and too useful to fail—it reinvents itself as a positive force in our struggle to thrive on a warming planet... (MORE - details)
https://www.anthropocenemagazine.org/202...te-change/
EXCERPT: The basic premise of insurance is that the premiums of the many pay for the losses of the few. But what happens when the few become the many, and losses reach for the sky?
In one scenario, vulnerable parts of the world become completely uninsurable, and economic and/or natural forces dismantle communities. Adaptation happens, but it’s painful. In another, insurance is just too big and too useful to fail—it reinvents itself as a positive force in our struggle to thrive on a warming planet... (MORE - details)