Hurricane Hell 2024

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Helene forcast to be Cat 4 on landfall. Fun in Florida!



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What's the worry? According to the article, only 2 to 4% of homeowners have flood insurance to begin with.  Obviously, if the insurance cost rises, more people will drop their insurance.  This seems like a bigger problem for the insurers than the homeowners. at least until a flood hits them.

You might want to think twice about buying a McMansion on the Gulf Coast.  Or any coast.  Or mountain regions subject to flash floods.  Or downstream from a Dam that might fail.

https://www.dailymail.co.uk/news/article-13926863/Ryan-Serhant-home-insurance-crisis-Helene.html

Real estate expert reveals 'one of the greatest crises people will see' in the coming years

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Looking real ugly for Tampa Bay and even inland to Orlando and Disneyworld.  5 October's worth of rain in a couple of days along with heavy storm surge and 120 mph winds.  This is enough to basically flatten central FL, with a solid 3M people in the path.  Some insurance companies could go broke on this one.  The companies covering the region are already stretched by the claims coming from Helene.

This is where Climate Collapse intersects with Economic Collapse and Social Collapse.  There will be a whole lot more Homeless down there on top of the already large number, along with a significant loss of housing units.  It's shaping up to be Katrina-like in scale on the economics and number of displaced people.

Definitely one to watch for Collapse Observers.







https://www.forbes.com/sites/marshallshepherd/2024/10/06/a-worst-case-hurricane-scenario-could-be-emerging-for-tampa-bay/

A Worst-Case Hurricane Scenario Could Be Emerging For Tampa Bay

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Milton made it to the top of the Cat5 scale with winds at 180 mph, but has now backed off to Cat4 150 mph or so.  Classic symmetrical cyclone shape and expanding in size.  Tampa Bay is going to get hammered with storm surge.  The flooding is going to rival NOLA after Katrina if it makes landfall to the north side of bay at high tide.



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Heading for a direct hit on Tampa Bay.



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Heading for a direct hit on Tampa Bay.

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Looks bad. As with most high impact low probability events, there will be quite a bit of hand wringing when it is all over. Ranging from "once in a lifetime" as opposed to "climate change I TOLD YOU SO". I'm interested in whether or not the insurance industry tanks in Florida, needs bailed out, and then DeSantis has to defend his "we've got the insurance thing under control" statement made recently.

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So far the MSM is downplaying the damage from Milton, emphasizing how Tampa dodged the Storm Surge bullet with the eye making landfall south of the bay.  However there are still over 1M without power and gas shortages statewide, despite the fact they had plenty of warning and supposedly pre-positioned their supplies.  I read an estimate of $50B in damage. which given the scope of the hurricane and it's track has to be a serious underestimate.

My bet is  we'll start hearing more complaining around the middle of next week.

https://www.usatoday.com/story/news/nation/2024/10/12/hurricane-milton-updates-saturday/75644638007/

Cleaning up after Milton: Floridians survey billions in damage, many still without power

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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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