WTF Climate Change News

[WolfEyes]

I'm wondering, though, whether the help people need to rebuild would not be better used to help them rebuild or relocate somewhere that's not at so great a risk of flood or other natural disaster, particularly when taxpayers' money is involved, rather than to help them rebuild somewhere that's likely to be flooded or flattened again in a year or so's time.

If they did that their profits would not increase quarterly. That is what it's really about. Increasing quarterly profits. Yet they don't put much of the profits back into the business because they're paying their top management lots of high wages and perks plus million(s) dollar bonuses.

 

[Beebo Brink]

I'm wondering, though, whether the help people need to rebuild would not be better used to help them rebuild or relocate somewhere that's not at so great a risk of flood or other natural disaster, particularly when taxpayers' money is involved, rather than to help them rebuild somewhere that's likely to be flooded or flattened again in a year or so's time.

There are government programs buying coastal property to return it to wetlands, which is the only economically sound long-term solution. There is considerable friction with implementation unfortunately. Many residents resist moving because it means leaving family and community. Real estate interests and other businesses push back for obvious reasons, and some town governments balk at losing tax revenue.

The process is slow, taking years to secure the funding, identify qualifying properties, persuade owners to sell, and complete the title transfer.

Over the years, I've read dozens of articles that touch on this topic so I'm generally familiar with the issues. Google search brought up this: Property Buyouts Can Be an Effective Solution for Flood-Prone Communities | The Pew Charitable Trusts (pewtrusts.org)

 

[Innula Zenovka]

If they did that their profits would not increase quarterly. That is what it's really about. Increasing quarterly profits. Yet they don't put much of the profits back into the business because they're paying their top management lots of high wages and perks plus million(s) dollar bonuses.

I don't understand. Who are "they" in this context? Florida's Citizens Property Insurance Corp?

 

[Essence Lumin]

You have this state insurance company of last resort. When they go broke things will probably get wild. You have the federal government bailing out water rights holders in the SW. This sort of stuff cannot last. Then all hell will break loose.

 

[Beebo Brink]

Oh, ffs....

Banks pouring trillions to fossil fuel expansion in global south, report finds | US news | The Guardian

 

[Beebo Brink]

Rich countries will take more than 200 years to cut emissions to zero – study | The Independent

Rich countries that have “decoupled” their economic growth from carbon emissions will take more than 200 years to reduce their emissions to net zero, a team of sustainability researchers estimates.

One of the underpinnings of my general pessimism concerning climate change response is just this, the changes to a deeply entrenched infrastructure take too much goddamn time.

 

[WolfEyes]

I don't understand. Who are "they" in this context? Florida's Citizens Property Insurance Corp?

They = all insurance companies.

 

[Innula Zenovka]

They = all insurance companies.

But I understood that insurance companies were pulling out of the domestic home market in states like Florida, so how state or federal funds are used to asssist victims of floods, hurricanes or other exteme climate conditions shouldn't affect them one way or another.

In general, I'd have thought that insurance companies would welcome it if people living in high-risk areas were to relocate somewhere safer, so they could get back to selling them insurance against fire and other normal risks.

Insurance companies make their money by selling people policies they don't need to use.

 

[WolfEyes]

But I understood that insurance companies were pulling out of the domestic home market in states like Florida, so how state or federal funds are used to asssist victims of floods, hurricanes or other exteme climate conditions shouldn't affect them one way or another.

In general, I'd have thought that insurance companies would welcome it if people living in high-risk areas were to relocate somewhere safer, so they could get back to selling them insurance against fire and other normal risks.

Insurance companies make their money by selling people policies they don't need to use.

If they're pulling out of a market, they're losing money. They can no longer sell those unneeded policies or collect the monthly premiums. They have to make up those losses somehow. Most likely by raising everyone else's rates sky high.

Relocate to where? The planet isn't making more land fast enough to keep up with the population growth. In fact, we're losing land to rising seas and erosion. Look at the Mississippi River Delta and how much land it's lost in the last 30-40 years.

Insurance companies make their money when they don't pay out on claims. That is the number one reason claims are usually denied the first time around and you have to start making legal threats.

ETA: Things are a lot worse than they appear to be on the surface.

 

[Soen Eber]

If they're pulling out of a market, they're losing money. They can no longer sell those unneeded policies or collect the monthly premiums. They have to make up those loses somehow. Most likely by raising everyone else's rates sky high.

Relocate to where? The planet isn't making more land fast enough to keep up with the population growth. In fact, we're losing land to rising seas and erosion. Look at the Mississippi River Delta and how much land it's lost in the last 30 years.

Insurance companies make their money when they don't pay out on claims. That is the number one reason claims are usually denied the first time around and you have to start making legal threats.

If I understand right, they're only pulling out of the high risk policies like flooding, wildfires, and so forth. They are more than happy enough to insure you against a kitchen fire or a tree falling on your car provided it's not during a hurricane or wildfire.

Just like they will cover a broken leg but very often will not cover long term care in a nursing care facility.

 

[WolfEyes]

If I understand right, they're only pulling out the high risk policies like flooding, wildfires, and so forth. They are more than happy enough to insure you against a kitchen fire or a tree falling on your car provided it's not during a hurricane or wildfire.

They're pulling the "acts of god" policies that they have to pay out the most on. They lose the most on. Insurance was and always has been a scam.

Trees don't just fall on cars. It takes an act of nature/god for a tree to fall if it isn't cut down by humans. The difference is in the amount of payout. Because in a hurricane there will be way more damage, so the payout is higher than if a regular windstorm blows the tree over.

The point is, in pulling out, they're hurting the very people they're supposed to be helping because they lose money. It is motivated by greed even if no one wants to admit it.

 

[Soen Eber]

Thanks. It's still a bit unclear to me what effect this is having on the mortage market, though. I'd have thought that it would be difficult to obtain a mortgage secured on a property that's not insured against damage from floods, wildfires and extreme weather, because that leaves the lender as much at risk as the borrower. But does existance of the Citizens Property Insurance Corp, as the insurer of last resort, solve that problem?

Presumably the CPIC funded by the taxpayer, who is expected to underwrite loosing bets against the climate?

Florida's first hurricane-proof town
My response isn't exactly on-target to the specific question, but this addresses the general issue. There are also several links from that article that are worth exploring.

Also, I finally signed up for the BBC

 

[Noodles]

They're mocking and belittling a genuine threat that will kill thousands, perhaps millions, of their own voters.

There is actually some irony that it probably will affect the southeast more than anywjere, which disproportionaly supports these jackasses.

 

[WolfEyes]

Florida's first hurricane-proof town
My response isn't exactly on-target to the specific question, but this addresses the general issue. There are also several links from that article that are worth exploring.

Also, I finally signed up for the BBC

Give it 10 - 20 years for the cracks to start showing. Then we'll see how well it weathers a Cat 5, if I'm still alive.

 

[Soen Eber]

Give it 10 - 20 years for the cracks to start showing. Then we'll see how well it weathers a Cat 5, if I'm still alive.

Those would be the underground utilities which are a total somethingsomethingnasty to repair or replace, especially given the water table. They mitigated that by moving inland 30 feet up and buffering like crazy with their landscaping, but it's still gonna hurt. It would be a real challenge to build anything high density with this kind of planning so it looks like they didn't even try.

 

[WolfEyes]

Those would be the underground utilities which are a total somethingsomethingnasty to repair or replace, especially given the water table. They mitigated that by moving inland 30 feet up and buffering like crazy with their landscaping, but it's still gonna hurt. It would be a real challenge to build anything high density with this kind of planning so it looks like they didn't even try.

Gentle reminder that the family business started by my grandfather (getting close to 100 years ago now) was underground utilities. Water, sewer, drainage, gas and sewage. Power lines weren't buried. I was the bookkeeper after starting as receptionist/dispatch and working my way up past Secretary.

I'm not talking about cracks in underground utilities. I'm talking about cracks in foundations and walls.

 

[Beebo Brink]

Florida's first hurricane-proof town

I've read about this community before, and it's alternately inspiring for what they've achieved and depressing for highlighting the schism between the Haves and the Have-Nots when it comes to climate resilience. As always, the wealthy can buy mitigation of the worst of climate catastrophes, while poor/minority neighborhoods face these extremes head-on with fewer resources to pick up the pieces of their lives.

 

[Kamilah Hauptmann]

I've read about this community before, and it's alternately inspiring for what they've achieved and depressing for highlighting the schism between the Haves and the Have-Nots when it comes to climate resilience. As always, the wealthy can buy mitigation of the worst of climate catastrophes, while poor/minority neighborhoods face these extremes head-on with fewer resources to pick up the pieces of their lives.

“Who will clean my toilets now that all the poors are dead???” -some rich guy

 

[Innula Zenovka]

False claims that heatwave is bogus spread online

Weather forecasters wrongly accused of using misleading data to "drive fear".

www.bbc.co.uk

Heat denial: influencers question validity of high temperatures

 

[Isabeau]

Reminds me of the guy who lives in my building who was saying all the sick and dying during COVID was faked in the news. I had replied that I was literally just there, but he still didn’t believe…