Yup. 80 yesterday, 25 tomorrow. Bonkers.
The world is fast approaching temperature levels where insurers will no longer be able to offer cover for many climate risks, said Günther Thallinger, on the board of Allianz SE, one of the world’s biggest insurance companies. He said that without insurance, which is already being pulled in some places, many other financial services become unviable, from mortgages to investments
(Via Le Show)
Yeah, i am sorry, but for the most vulnerable, (looking at you, South Florida) that ship has sailed. Too many tipping points already passed. We are not looking at prevention, but amelioration. It is already there.
This framing also left me a bit conflicted. Linking civilization to the existence of markets seemed odd, but I guess that’s the only language that motivates oligarchs to change their ways. If they’re not able to profit from investments and banking/lending, civilization will continue - just not in the same way as before. They’ve been working hard to push all the non-wealthy classes into an ever-increasing cycle of debt and lower income. Maybe this will lead to a new social order where the rich finally have to make do with less. The rest of us can return to the roots of insurance - mutual aid.
As intended, of course.
Not sure if this is strictly about climate change… but…
This is good news, especially in the age of Trump, but it needs to increase much more quickly.
And