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   Patrick (patrickoftheg@mastodon.social)'s status on Friday, 10-Jan-2025 03:24:41 JST Patrick

   I think the total collapse of the insurance sector is going to be interesting. Insurance, at the best of time, was always a crap-pile with people who are plainly disincentivized from paying you out. That was the base point.

   The thing is, with all these natural disasters that are only going to pick up in frequency and severity and repetition, there *is no way* for them to pay everyone out. They can't. There's not enough money. There's nothing you or anyone can do about this.

   • AnthonyJK-Admin repeated this.
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     Patrick (patrickoftheg@mastodon.social)'s status on Friday, 10-Jan-2025 03:24:45 JST Patrick

     in reply to

     Your governing political entity may try backing them up with state funds or or compel them to provide, but the state will bankrupt itself on payouts just as surely as the insurers will or, for the latter, the premiums will be so high you won't be able to afford the insurance.

     The only places you will be able to offer affordable insurance are places that are so safe they won't need it.

     It's going to be real interesting what happens then.