See, I don't understand acts of god as it pertains to insurance. Acts of god are unforeseen, unavoidable accidents. What is insurance for if not literally that exact situation?
this post was submitted on 14 Nov 2024
428 points (98.2% liked)
memes
10311 readers
1494 users here now
Community rules
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads
No advertisements or spam. This is an instance rule and the only way to live.
Sister communities
- !tenforward@lemmy.world : Star Trek memes, chat and shitposts
- !lemmyshitpost@lemmy.world : Lemmy Shitposts, anything and everything goes.
- !linuxmemes@lemmy.world : Linux themed memes
- !comicstrips@lemmy.world : for those who love comic stories.
founded 1 year ago
MODERATORS
It's for-profit of course
What is insurance for if not literally that exact situation?
It is to explain you why they won't pay. Funny how it took High Court in the UK to force them to pay for Covid business interruption claims.
Insurance companies jacking up premiums and/or pulling out of areas is like the only proper feedback loop for adapting to climate change left. Not saying I'm happy about it. I would not be totally shocked if health insurance starts having carve outs for heat related illnesses and their complications. Typing it out, I guess what's more likely is raising premiums in areas with hospitals that serve a patient base in a high risk area.
It's not even evil, it's just math, so long as this is the way we want healthcare to "work".
Insurance Companies: "Climate related disasters are acts of God."
Also Insurance Companies: "Welp, time for us to GTFO of places where 'acts of God' seem to be occuring with increasing frequency."
clearly God is just really angery at those places in particular
Florida and California? Makes sense tbh.
2025: The supreme court of the US has decreed that god created humans therefore any human-made disasters are by transitive property of mathematics, "acts of god".
Acts of God get companies out of a lot of financial burdens, so there is a financial incentive to continue labeling climate related natural disasters as Acts of God.
That said, insurance companies know the odds on events and are pricing in the risk of climate change even if they want to keep the worst instances as Acts of God.
Damn they might be insuring large companies that are causing climate change, that might just seemingly possibly affect their business.
Gotta make use of that Force Majeure-clause
They probably wish they could pin it on an entity and recover losses through subrogation rather than just taking the hit. By 'taking the hit' I mean all us taking the hit, but they'd probably like being able to shake money out of judgments and raise our rates at the same time