Report: Insurers profit from climate alarmism

[Old Rocks]

Report: Insurers profit from climate alarmism

Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?

The Consumer Federation of America says in a new report:

There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.

The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.

Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…​

We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.

And we still await the results of the Nature investigation.

Click for the CFA report.​

OK. Where is your link? Or is this just more baseless bullshit?

 

[editec]

I do not doubt for a minute that the INSURANCE INDUSTRY is going to respond to either REAL climate change or the THREAT OF climate change to serve their own interests.

Staying in business and making as much profit as possible, is, after all, their ONLY concern.

 

[Old Rocks]

If the insurance companies carry too much risk, they go broke. The reinsurance companies, like Swiss Re and Munich Re limit the kind of insurance companies they cover for precisely this reason. A large enough catastrophe, or series of catastrophes, and there is no way the industry has enough money to cover the costs. Not good for the consumer, not good for the industry.

So, the companies limit what they will cover. If you are in certain areas, and do not build to standards that will protect you from known events in that area, then you cannot get insurance, or, at best, pay a very high premium for partial coverage. Simple economics and business.

There are ways for individuals to build homes that can withstand either F-5 tornadoes, or Cat 5 hurricanes. Not much more spendy than standard construction. And that is what the insurance companies are stating that people who want insurance in such areas had better do. As for floods, simply put the living area well above the known highest flood level.

 

[skookerasbil]

If the insurance companies carry too much risk, they go broke. The reinsurance companies, like Swiss Re and Munich Re limit the kind of insurance companies they cover for precisely this reason. A large enough catastrophe, or series of catastrophes, and there is no way the industry has enough money to cover the costs. Not good for the consumer, not good for the industry.

So, the companies limit what they will cover. If you are in certain areas, and do not build to standards that will protect you from known events in that area, then you cannot get insurance, or, at best, pay a very high premium for partial coverage. Simple economics and business.

There are ways for individuals to build homes that can withstand either F-5 tornadoes, or Cat 5 hurricanes. Not much more spendy than standard construction. And that is what the insurance companies are stating that people who want insurance in such areas had better do. As for floods, simply put the living area well above the known highest flood level.

You're right Ray.........the thought of there being special interests attached to "climate change" as absolutely absurd!!!

 

[Old Rocks]

Here's the problem, Steve. We had two major tornado impacts in one year, Tuscoloosa, and Joplin. Suppose one of those had centerpunched a major city? Or two in one year? How are the insurance companies going to handle an event like that?

With increasing numbers of extreme weather events, the chances of a huge impact become far greater. And insurance is a neccessary evil. Insurance companies that are broke cannot insure anybody. So, yes, there are very good reasons that insurance companies have a 'special interest' in AGW. It directly impacts their bottom line, and they way they can afford to insure customers.

 

[daveman]

Report: Insurers profit from climate alarmism

Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?

The Consumer Federation of America says in a new report:

There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.

The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.

Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…​

We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.

And we still await the results of the Nature investigation.

Click for the CFA report.​

OK. Where is your link? Or is this just more baseless bullshit?

Forgot the link.

Report: Insurers profit from climate alarmism | JunkScience.com

Now you can attack the source. Go ahead. We both know you will.

 

[OohPooPahDoo]

Report: Insurers profit from climate alarmism

Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?

The Consumer Federation of America says in a new report:

There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.

The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.

Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…​

We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.

And we still await the results of the Nature investigation.

Click for the CFA report.​

Sounds like a failure of the free market.

 

[Old Rocks]

Report: Insurers profit from climate alarmism

Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?

The Consumer Federation of America says in a new report:

There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.

The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.

Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…​

We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.

And we still await the results of the Nature investigation.

Click for the CFA report.​

OK. Where is your link? Or is this just more baseless bullshit?

Forgot the link.

Report: Insurers profit from climate alarmism | JunkScience.com

Now you can attack the source. Go ahead. We both know you will.

OK. Junk Science is correctly labeled junk science.

 

[daveman]

Report: Insurers profit from climate alarmism

Does this explain why MIT meteorologist and alarmist Kerry Emanuel is a board member of at least two insurers?

The Consumer Federation of America says in a new report:

There are many conclusions to be drawn from the reduced losses that insurers have experienced in recent years.

The prime conclusion is that the insurance industry has moved from its historic role as a calculated risk-taker to one of a risk-avoider, exposing consumers and taxpayers to much higher costs. Not only have insurers insulated themselves from their historic share of hurricane risk, they have made no serious effort to write flood risk and terrorism risk, which are entirely backed by federal taxpayers.

Although insurers have become adept at shifting the cost of catastrophe losses to others, they still use catastrophic weather events to advocate for measures that would shift risk even more, such as higher rates, or putting more policyholders in pools or created taxpayer-supported entities. Thus, many consumers exposed to catastrophe weather risk are also vulnerable to insurer attempts to unjustifiably increase rates or hollow out coverage…​

We reported earlier this year that Emanuel worked for two insurance companies — an affiliation that he failed to disclose on at least one published study in Nature.

And we still await the results of the Nature investigation.

Click for the CFA report.​

Sounds like a failure of the free market.

Not at all -- it's a success. Profiting from stupid people is easy money.

 

[daveman]

OK. Where is your link? Or is this just more baseless bullshit?

Forgot the link.

Report: Insurers profit from climate alarmism | JunkScience.com

Now you can attack the source. Go ahead. We both know you will.

OK. Junk Science is correctly labeled junk science.

How does it feel to be so simple-minded and predictable?

 

[flacaltenn]

Here's the problem, Steve. We had two major tornado impacts in one year, Tuscoloosa, and Joplin. Suppose one of those had centerpunched a major city? Or two in one year? How are the insurance companies going to handle an event like that?

With increasing numbers of extreme weather events, the chances of a huge impact become far greater. And insurance is a neccessary evil. Insurance companies that are broke cannot insure anybody. So, yes, there are very good reasons that insurance companies have a 'special interest' in AGW. It directly impacts their bottom line, and they way they can afford to insure customers.

The lack of critical thinking here is appalling. "Suppose one of those had centerpunched a major city?".. THEY DID --you moron.. Maybe not MAJOR to you -- But Joplin, Birmingham, Tuscaloosa, ALL took it in their city plexus. As opposed to one street in a subdivision or a couple barns on open fields. THAT'S WHY the bill is so high..

Evidently -- Global Warming is not only making those Super Cells, Bigger, Stronger, and lasting longer --- but OldRocks --- they are actually getting SMARTER as the temperature rises.!!