Anyone who believes these financial products are designed to help victims of natural disasters recover their financial losses is not playing with a full deck. Insurance policies are designed to make insurance companies rich. In the event they can't weasel out of paying claims, they go bankrupt. Besides that, the people who really need this type of protection can't afford the premiums.
Really what is needed is a Global Climate Disaster Relief Fund, which all countries pay into based on their ability to pay. Then when the disaster hits somewhere, a payout is made to the nation that took the hit, and that Gopbermint disburses it to local goobermints and individuals.
https://www.bloomberg.com/features/2024-jamaica-hurricane-catastrophe-bonds/?utm_source=newsshowcase&utm_medium=gnews&utm_campaign=CDAqEAgAKgcICjDi7PAKMIXduwIwyueiAw&utm_content=rundown&gaa_at=g&gaa_n=AWsEHT6h7WGgNg_c0sS1q67aGS1GKB6G_xJIlbv7a97j0AW2JTTqi3WzfZb3k-5ToWTc0x8Ii634-iJaMHjFcpIAcz32&gaa_ts=670d39a8&gaa_sig=4a02C2yaRsCyFvVyP3VLOZBtW8GLyOWh4aYERxqSfp6IGWylE5GNxd_RnudABrfsXMhOGhjomZrRmFXMoBHebg%3D%3D
The Harsh Reality of 'Hurricane Insurance'
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Hurricane Hell 2024 - The Harsh Reality of ‘Hurricane Insurance’
Started by RE Oct 14, 2024, 08:12 AM
Message path : / Planetary Material Conditions / Global heating / Hurricane Hell 2024 #7
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