Is the Home Insurance industry getting what it deserves?

[msc545]

Across virtually all of this coverage, the “insurance industry” and “extreme weather” are posed as entirely separate phenomena that now happen to be clashing to create a “crisis.” But a critical fact is omitted from this narrative: For the insurance industry, this is largely a self-induced crisis because of its massive, decadeslong underwriting of — and investment in — the very fossil fuel operations that are driving climate change-induced extreme weather events.

Top insurers, from AIG to Liberty Mutual to Chubb, together rake in billions of dollars annually by underwriting the global buildout of oil and gas pipelines, offshore drilling, Liquefied Natural Gas (LNG) export terminals and other fossil fuel operations. Climate change is directly caused by these activities.

[coachTanthony]

If the govt makes me have insurance they should have insurance then to purchase. Making people go to private sector to purchase insurance is ridiculous. same goes with car insurance.

[msc545]

It is not the government who makes you have homeowners insurance. It is the lender that makes you have it because they want to protect their collateral. If you don't have any outstanding mortgages on the house, you can go without insurance. If you choose to do that. Most people don't.

[exitseven]

The insurance companies always make money. They use complex mathematical calculations to set their rates and set their premiums accordingly.

[msc545]

True - they just incessantly complain and raise rates.

[exitseven]

@msc545 car insurance is even worse.

[msc545]

I have a perfectly legal way to pay $ 150 / month for three cars so... it is doable with good coverage. Ask me how.

[exitseven]

I do not think $1800/ year is really cheap. I am paying 700/ year for my truck and a little less for my wifes car.

[msc545]

What company?

[exitseven]

Its called Commercial. I have an agent that my wife dealt with before we were married. We go back a long way.

[msc545]

Do you have a link so I can get a quote?

[exitseven]

Thanks for the MHO😎

[NathanDavis]

are they "too big too fail" as well? I hope not...

[DrPepper12]

My bil is an actuary raking in $250k engineering algorithms to analyze ever more data points to squeeze more profits out of premiums. Pretty good gig

[Anonymous]

It's not hurting my LNG and CB stock share price.