'Insurance companies know': More people vulnerable as cost of climate disasters rises - Velshi - MSNBC

[Rhiannon12866]

As Florida residents recover from another hurricane, many are finding it increasingly difficult to insure their property against future disasters. Florida is not alone. Right-wing politicians may see some political advantage in pretending climate change is a hoax, but insurance companies that are paying more for clean-up and repairs after climate disasters know that their bottom line isn't fake news.

Monica Medina, a former NOAA official, talks with Ali Velshi about the increasing difficulty of securing insurance as damage from climate change becomes more likely across the U.S. - Aired on 08/30/2023.

[Earth-shine]

1. Part of the problem is we can no longer afford for-profit insurance companies ...

because the world is being destroyed by for-profit oil companies.

[Rhiannon12866]

2. Good point, and it's not only Florida, they also mentioned New York

Where I am.

[lapfog_1]

3. Lot of expensive homes for sale in Sierra Foothills

that are not selling... because for someone to get a mortgage, they need an insurance policy... and you can no longer (at any price) get a fire protection policy in the heavily forested areas.

So the sellers are waiting for people with all cash offers. Smart buyers are thinking "do I really want to pay $700K or more for something that I could lose in 5 years or 10 years to the next Paradise type fire?"