Climate Change Experts Explain to Insurers They Don’t Understand Risk

By Eric Worrall – Re-Blogged From WUWT

You might think business stars like Warren Buffett have some idea of how to run an insurance company. But climate experts keep trying to explain that the focus insurers have on observational evidence is leading to insurers underestimating the risk of climate disasters.

Insuring your home may get harder and more expensive as climate change increases risks

ABC Radio National / By Antony Funnell for Future Tense

Our homes have become sanctuaries — places of refuge in the time of coronavirus. But they can’t protect us from all threats.

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The Next Giant Industry in Need of a Bailout

Well this is starting to become a trend.

Over the past few weeks, state governments across the Land of the Free have been feverishly proposing new legislation that will virtually guarantee the entire insurance industry is wiped out.

The root of the issue has to do with something called business interruption insurance.

Business interruption is a pretty common type of insurance that’s designed to protect business owners against a number of risks.

Sea Level Rise Preparation Plan Puts Pacifica Property Owners on Edge

By Brooks Jarosz – Re-Blogged From KTVU

The Fairway Park West neighborhood in Pacifica has been the place Jeff Guillet and his family have called home for nearly a decade, but he’s concerned his property and its value could soon be at risk with the passage of a new coastal plan.

The City of Pacifica is working on updating the Local Coastal Program plan or LCP, which includes preparing for sea level rise over the next 50 to 100 years. It involves making tough decisions to prepare for the worst case scenario. Guillet claims his entire neighborhood is located in a hazard zone, made up of any land west of Highway 1 in Pacifica.

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Federal Judge in Texas Rules Affordable Care Act is Unconstitutional

The Affordable Care Act was struck down by a Texas federal judge in a ruling that casts uncertainty on insurance coverage for millions of US residents.

The decision Friday finding the ACA unconstitutional comes just before the end of a six-week open enrollment period for the program in 2019 and underscores a divide between Republicans who have long sought to invalidate the law and Democrats who fought to keep it in place.

US District Judge Reed O’Connor in Fort Worth agreed with a coalition of Republican states led by Texas that he had to eviscerate the Affordable Care Act, the signature health-care overhaul by President Obama, after Congress last year zeroed out a key provision — the tax penalty for not complying with the requirement to buy insurance. The decision is almost certain to be appealed all the way to the Supreme Court.

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Yet Another Trillion-Dollar Unfunded Liability, California Wildfires Edition

By John Rubino – Re-Blogged From Dollar Collapse

Yesterday an entire California town burned down. Paridise, CA has (had) 27,000 residents and over 1,000 buildings, and now it’s pretty .

That fire and several others are still expanding across the state, threatening tens of thousands of homes. The sets of the TV show WestWorld are gone. Malibu has been evacuated. And dry, windy conditions persist, so the story is nowhere near over.

If this sounds familiar, it’s because massive, sometimes uncontrollable California wildfires are now an annual occurrence, due in part to gradual warming and persistent drought which combine to suck the moisture out of vegetation and turn the landscape into a tinderbox. Here’s a chart showing the recent take-off in the number of fires reported in the state (2013 was most recent year I could find, but the trend is clear – and since then the number of fires has apparently soared).

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Is Canada’s Health Care System Better Than Ours in the US?

By Carlin Becker – Re-Blogged From IJR

Health care is always on Americans’ minds, and the politics around keeping people insured and healthy, cutting costs and providing high-quality care remains a critical issue.

While some have argued for deregulating the health care industry, insisting less red tape and more competition would yield better results, others on the political spectrum have pushed for a government-run system reminiscent of our neighbors to the north — but is Canada’s health care system really better than ours?

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