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'


RE

I read the commentary, as opposed to watching the video. Sounded good, in the usual happy doomer way. Nicely scary and all. More interesting than the The Great Dieoff claimed by Ehrlich that didn't happen by the end of the 1980's, certainly more interesting than the global cooling and next ice age stuff popular back in the early 70's. In terms of whatever this decades world ending stuff is, it sounded good. Improved over the nonsense peak oil early 21st century, Mayan calendar, Planet X and Yellowstone going BOOM tomorrow horseshit that seemed so popular in places like the Diner back in the day.

So two thumbs up for the climate changing some more, or again, and humans still not liking it!