WTF?

According to the Washington Post (12/07/2023)..."As the world confronts more extreme weather intensified by climate change, home insurance has become more complicated and costly for many Americans."

"In Florida, Farmers’ move is another blow to the state’s already struggling insurance market, which lawmakers have tried to bolster. It also comes as Florida is bracing for the coming hurricane season, with record-warm Atlantic waters expected to bring above-average activity."

Corporations that make a profit from analysing climate data, using the same models designed by climate scientists, are well aware of climate change and have been responding to it for decades.

The same thing but on a smaller scale has been happening in Australia as well.

Perhaps we need to take the matter more seriously.

Dear WTF?

This is serious. Farmers Insurance has become the
latest insurer to pull out of Florida. Farmers in
Florida are struggling regarding insurance:

http://theguardian.com/us-news/2023/jul/12/florida-farmers-insurance-climate-crisis

Australia should be concerned. Vibrant regional communities
are not just about farms. They're about inter-dependent
networks of businesses, towns, public infrastructures and people.

The effect of drops in farm income will ripple through
communities. If farms close so will other regional
businesses.

So far developmental planning in Australia has not
adequately considered the potential of climate on liveability
especially in rural communities. This failure exacerbates the
potential of stranded assets.

The NSW Auditor-General in September 2020 reported that the
state government had "not effectively supported or over
seen town water infrastructure planning in regional NSW since
2014."

This contributed during the intense drought of 2019 at
at least 10 regional NSW cities or towns coming close to "zero"
water.

WTF,

Power prices - up. Cost of production - up. Consumer prices - up. Now, insurance premiums - up.

As always, when 'emergencies' are declared; when lies are told about harmless, essential to life carbon dioxide, of which only 4% is produced by humans - follow the money. Who stands to gain? The already wealthy who want to get wealthier, and the politicians, who want back the sort of control that they had over us during the Covid 'emergency'.

Get ready to pay more; to be controlled more - or stop voting for Labor, LNP, and the Greens.

Hello Foxy,

Thanks for your input.

Farmers insurance took bets not just on farms but on motor vehicles, houses and other forms of insurance as well.

Floridians pay an average of $6,000 annually for home insurance — compared with a national average of $1,700.

With about 100,000 existing policies this company is prepared to walk away from $US 600 000 000 in premiums every year.

This is not so much the invisible hand of the market but a slap in the face for those who have held policies for years.

Even charging 3.5 times the national average for a policy Farmers want nothing to do with Florida.

In California, State Farm, Allstate and AIG have stopped taking on new policies as well.

Hello ttbn,

Follow the money you say? - Exactly.

Insurance companies are fleeing Florida, California and Louisiana.

They want to make money for those who already have money and taking bets on these states is a bad bet.

Insurance companies looked at the science generated from oil companies as far back as the 1950s.

They use the same models generated by climate scientists.

They appreciate the effects that rising CO2 levels are having on climate change and are using that knowledge to (as you correctly point out) help the wealthy get wealthier.

Dear WTF?,

American insurance companies certainly have a lot to
answer. Hopefully Australia will do better.
Although not sure if regional communities would agree.