Mark Cuban Says, 'The Insurance Industry Is Concerned About Melting Ice In Antarctica'
Posted by NoseRepresentative@reddit | collapse | View on Reddit | 164 comments
TonyHeaven@reddit
It's always been my belief that what will bring down the current economic system is insurance companies failing , as climate disasters multiply .
Once there is no affordable insurance , the whole system loses its safety net , and fear will stop people investing.
Once the economy isn't growing constantly , it's likely to fail .
LakeSun@reddit
Florida without insurance cannot exist.
senselesssapien@reddit
No where can. Every house with a mortgage has to have insurance. And that mortgage debt is a huge part of the money supply. No more insurance means no more mortgages means no more money supply growth means a depression in our current system.
provisionings@reddit
Can’t we do a non profit insurance overhaul? Something’s gotta give. Life in general has become increasingly uninsurable.
senselesssapien@reddit
Insurance companies are only skimming 5-10% a year off the top of the profits from the investments they hold. It works by everyone buying insurance, them investing the money and only paying out when something goes wrong, which could have been never for some people.
But now we're looking at catastrophic losses because our built infrastructure wasn't designed for the current climate. For every 1⁰C the temperature rises the air holds 7% more moisture. Soon everyone will have claims, and whole towns/cities will need to be rebuilt. That's gonna cost more than the 5-10% a non-profit would save.
In Canada they estimate that 5-10% of our current housing shouldn't be rebuilt after it floods now because it's just going to flood again... Those home owners are SOL.
working-mama-@reddit
Regular property insurance doesn’t cover flood damage anyway, at least here in US. Vast majority of flood insurance here is through FEMA.
CannyGardener@reddit
This. When you think about our system from the perspective that it is a fractional reserve financial system, it really puts things in focus. Ballpark, for every $1 of savings we are able to generate $10 of loan dollars at a bank. The loans are how we grow the money supply. If noone is able to get a loan for a house, that money does not enter/circulate in the economy. Things get really weird at this point...
ThirstyWolfSpider@reddit
"for every $1 of savings we are able to generate $10 of loan dollars at a bank" sounds like you're working with a 10% reserve ratio requirement. But since 2020, hasn't the reserve ratio in the US been 0%? That fully decouples loans from deposits.
CannyGardener@reddit
His response ended up being more about the volume of buildings that are now built and insured going up, as well as buildings that should probably not be insured in the place where they were built because we are building in places that we shouldn't now that the 'easy' properties are all developed. He also mentioned that growth of cities along the coast are also exposed. End of the day, his argument is that there were just more properties that were built in areas exposed to higher risk, and they were not adequately billed to cover the risk.
MySixHourErection@reddit
Is everyone with a mortgage going to lose their house? That seems unlikely to me. There would be a revolt.
VandeSas@reddit
Revolt against what or whom? When things get to that point, there won't be any governments left to blame.
ThirstyWolfSpider@reddit
Well, we have at least a half-dozen things going on for which "there would be a revolt" would be expected to apply. As with any static-friction situation, there's a lot of resistance to forces until something suddenly moves.
KotoElessar@reddit
If everyone is underwater then no one is?
All of a sudden a dollar would be worthless and humanity would be reduced to a barter system unless some military power enforces a controlled economy.
Shoddy-Childhood-511@reddit
The good news is that once the global eocnomy crashes and stays down then maybe our emissions go down. :)
The bad news is that the economy might grow elsewhere, by other means, so the global economy might not stay down.
marswhispers@reddit
The emissions profile of the ensuing wars will probably not be much to your liking
Shoddy-Childhood-511@reddit
Any oil that gets drilled gets burnned by someone, because humanity doen't do energy transitions.
It'll only stay in the ground when someone blows up the refineries.
RicardoHonesto@reddit
I am surprised it has not escalated this far, to be honest.
ThirstyWolfSpider@reddit
Take a look at Russia's refinery situation some time … it's definitely escalated this far there (knocking out 17% of their capacity), but of course that's Russia's own fault. Expect that to happen some more.
Shoddy-Childhood-511@reddit
I'm optimistic it's coming eventually..
A few years ago nations never attacked refineries, but today: Israel left with no refineries operating, surging fuel deficit after Iranian strikes. Israel hit the world’s largest natural gas field and other key Iranian energy facilities, in a break from the past. Every Russian oil refinery attacked by Ukrainian drones in Operation Spider's Web, mapped. Recently, Russia is facing a fuel crisis as Ukraine escalates attacks on Russian refineries.
PsudoGravity@reddit
Disagree, hardy building techniques, i.e. essentially bunkers will make rebuilding unnecessary. Insurance be damned. If people there ever make it that far is hard to tell.
LakeSun@reddit
...the current stock of housing is at risk. Most people with homes do not of course have the funds to tear down and rebuild to modern standards. Then take away insurance...
SuperNewk@reddit
The govt will print money to bail everyone out = more Qe= more inflation
SeaOfBullshit@reddit
It's happening though
filmguy36@reddit
Most of the gulf coast states without insurance will be hit hard.
promibro@reddit
It's tough in California too. We were dropped by Berkshire Hathaway, and only had two choices and both were horrible.
virtualadept@reddit
Every year, California earthquake insurance covers less and less. Coverage of wildfires in renters' insurance is disappearing, too (ours was removed about three years back).
black-kramer@reddit
I got kicked off my home insurance plan last year, was lucky to have a good agent who found another company that would cover me. but surprise, less coverage for more money. and my fire insurance is insane -- 10k a year from ca fair.
Velocipedique@reddit
Florida underwater will not exist.
anonymous_matt@reddit
Doesn't really matter because Florida won't exist for much longer regardless.
Derrickmb@reddit
Florida *without land cannot exist
kan-sankynttila@reddit
the insurance prices of mississippi made front-page news in finland last week
acatinasweater@reddit
Florida without 49 other states in their risk pool more specifically.
broken_system_1@reddit
Curious about this in a historical context. Insurance has been around at least 5000 years and must have weathered (sorry) a number of catastrophes. It's so tied into all our systems, I wonder what the ripples will touch.
MaybePotatoes@reddit
Then comes the revolution. Let's hope it's a socialist one.
TonyHeaven@reddit
Did you miss the bit where the USA went fascist
MaybePotatoes@reddit
That doesn't mean that every member of the military will obey the fascists when shit hits the fan
DogFennel2025@reddit
I thought the Big Military Parade was kind of a sneaky way to not give Trump what he wanted. I mean, he probably wanted the kind of show Stalin used to get and instead he got a history lesson.
Maybe somebody in the military (who that idiot Hegseth hasn’t fired yet), has some kind of plan for not-cooperating for the unconstitutional orders, and the weird stuff like changing the sizes of military bases. I like to think there are at least a few creative thinkers who don’t like the way things are going.
TonyHeaven@reddit
You think it hasn't ? It's just progression down the slippery slope at this point , there's been no pushback at all that I know of ,from those who serve the constitution.
SuperNewk@reddit
Or the govt just back stops everything and prints more = bitcoin becomes the most valuable asset of all. Literally of everything
pippopozzato@reddit
I am not sure if you know this but for capitalism to survive it needs to be growing, and growing and growing ... like it needs to grow forever ... if it does not grow it ... wait for it ... collapses.
GeographyJones@reddit
Capitalism is cancer.
IGnuGnat@reddit
Capitalism is just the free exchange of goods and services, the real problem is lobbyists/corruption/human nature
The simple truth is that human nature means we corrupt every system. Humans are cancer
Inverseyaself@reddit
Capitalism is the single biggest driver of opportunity around the world. Humans are cancer.
InitialAd4125@reddit
If humans are cancer and capitalism is a human created system would capitalism by extension not also be cancer.
deleted_by_reddit@reddit
[removed]
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Someones_Dream_Guy@reddit
Worse. It's literal parasitism.
zuneza@reddit
Some cancers are dormant. Capitalism can't do that to function.
fantom_1x@reddit
This is true but it's true for all human systems. No economic system, even communism, cannot survive without growing or capping its population. It's just a fact.
TonyHeaven@reddit
Thankyou , I know this
Chucking100s@reddit
It's already failing and pension plans are buying the risk that insurers don't want.
Insurers offload risk in climate exposed markers largely to reinsurers.
Those reinsurers if they can typically offload it to other reinsurance providers, called retrocession.
We are already at the point in regions like the Gulf Coast, Florida, etc where even reinsurers for reinsurers don't want to insure your coastal FL property.
So... Catastrophic Bonds are created.
Pension plans, starved for yield, buy them, and earn 10-12% just so long as no disaster happens.
Investors, aren't aware either.
The SwissRe Cat Bond index excludes any of the bonds that blow up, so it shows like a 20% return which is totally hot air.....
youcantexterminateme@reddit
I doubt they would fail. I would have thought they were pretty good at statistics. But no doubt they will become more expensive. A lot more in some places.
Fragrant-Flamingo216@reddit
I thought this too, then I read about corporations buying up abandoned houses post disaster, then renting them out. So people lose their homes, or can't insure them, or can't buy them because they can't get a loan, because they can't insure them. Round and round it goes.
What's left for them? Renting. Who from? The corporations who swooped in and bought the houses dirt cheap. They don't care about insurance because they're making money from the rent. Disaster capitalism in a nutshell.
TonyHeaven@reddit
Where is this happening?
1i73rz@reddit
I would also point out that the number of people not keeping up on their insurance right now is just crazy. I may lose my job because no one can afford to pay their premiums.
fb39ca4@reddit
As in you work in insurance and your company is losing customers?
1i73rz@reddit
I deal with the billing/ customer service side of things, and it's becoming more apparent that people can't afford to insure their property, so we're losing business that way.
TheHistorian2@reddit
The insurance companies either get hit with huge liabilities after too many massive disasters or withdraw from all the riskiest locations and insure in only "safe" ones. Or both. Whichever way, they're diminished and it's an unrecoverable downward spiral.
neonium@reddit
Capitalism is a dumb fucking system that needs greed to keep runing, and it's very clear we need to be taking back the capital we've allowed people hoard under the fiction it spurs growth best back to funnel it into essential infrastructural and productive uses for a while now.
But, stupid as we are, we seem to be saying we'll need to see the current system colapse and huge amounts of suffering happen, as capitalists panic like the rats they are and cause the markets to implode, before we acknowledge that they where never a good system for managing surplus and move to something more sensible.
Hopefully we still retain enough oil at accessible ROEI and easily accessible mineral resources to cobble together the infrastructure and a system that can let the population atrophy to a more sustainable and sane level without forcing the consequences of our overconsumption onto the most vulnerable.
I doubt it, I expect that we'll literally exterminate swathes of the population as we continue to pretend that AI will provide some magical solution and blow that much more of our limited resources on useless compute, because we've got to keep pumping those stocks as long as possible lest we admit moving everyone's retirement plan into the market was the naked hostage taking and time bomb that it obviously was.
thepersonimgoingtobe@reddit
That's why AIG was propped up in '08.
SlashYG9@reddit
It's a canary, for sure.
DogFennel2025@reddit
Not to mention all the people who lost their tones when the banks cancel their mortgages because they are no longer insured!
thecarbonkid@reddit
As per the Deluge
TonyHeaven@reddit
Is that a book? Film?
onedyedbread@reddit
It's a book.
It's an interesting read for sure. Some of the main characters are irritatingly flat and I felt like there's a certain amount of naivete pervading the depiction of political processes in the book. But it's still pretty poignant overall and the hopium is kept to a minimum.
TonyHeaven@reddit
Thankyou 📖
thecarbonkid@reddit
Book.
TonyHeaven@reddit
Author. I'll check it out , never heard of it
danknerd@reddit
Infinite growth from finite resources. Basically, what capitalists think is the greatest economic system ever devised.
LakeSun@reddit
...on the back of Exponential Population Growth which is just ending.
Who thinks 5.5 Billion More People in 75 years is sustainable? Capitalism!
Shoddy-Childhood-511@reddit
https://dothemath.ucsd.edu/2012/04/economist-meets-physicist/
https://www.thegreatsimplification.com/episode/18-tom-murphy
rematar@reddit
I thought delaying 1929.2 (2008) by printing money was going to be the death knell, but maybe the collapse of insurance will win the race.
BigJSunshine@reddit
Ironically 2008 was triggered by AIG’s unfettered investments in CDOs
rematar@reddit
There was a lot of shady shit going on. There were a few scapegoats named, but very little changed. It's still a casino running with regulatory capture.
thehourglasses@reddit
That’s a bingo.
breatheb4thevoid@reddit
Meanwhile policymakers treating this like
ChodaRagu@reddit
Most people don’t realize that the big insurance companies employ many top-level data scientists to comb through mountains of data (environmental and economic), to ultimately help them mitigate risk.
If they are pulling out of an area, take that seriously!!
ScooterandTweak@reddit
I work in insurance, they are putting in exclusions now for forever chemicals (PFA’s). So, yeah they know risks long before people realize how dangerous they are.
Creative_Ranger5636@reddit
What do you mean exclusion for PFAs? Like for property or health insurance? What other insurance trends can you share with us?
ScooterandTweak@reddit
For commercial general liability (product liability). Basically the same way you see asbestos exclusions in standard policy forms from admitted carriers, you see the PFA exclusions now. This didn’t exist three years ago. But now every insurance carrier is putting this exclusion in their coverage because they understand the liability that comes with claims where the insurer might have some type of association with the product. This could be non-stick cook wear, Teflon, etc.
Yes, sure. Cyber claims are insane. You need to have really enhanced security in place to even get large limits on cyber policies.
Theft for trucking has gotten so bad that a lot of property coverage insurance carriers are putting huge restrictions or exclusions on coverage.
Finding admitted carriers to quote property coverage in fire zones in CA or flood zones jn FL is becoming really hard, even for commercial buildings. Vs non-admitted surplus lines carriers who charge way higher for this coverage and have restrictive coverage with lots of exclusions.
For a long time property coverage is what kept insurance carriers afloat because they lost so much money on auto, but now property claims from natural disasters, thefts, and nuclear verdicts on liability claims have caused carriers to exit entire markets.
It’s really difficult for insurance right now, outside of construction risks. Carriers love quoting builders risks policies, because they are usually really safe due to strict building codes.
ScooterandTweak@reddit
Also customs bonds needed by importers to import into the us. Sheesh. Don’t get me started on what I see with that in trends. It’s becoming out of control really fast, and i fear a deep recession is on the horizon with inflation. So stagflation, that will be a fucking shit show with this incompetent administration.
deletable666@reddit
Thank you for sharing these trends you are seeing
Creative_Ranger5636@reddit
Thank you for sharing! It's a wonder that the insurance industry hasn't collapsed yet.
ScooterandTweak@reddit
Insurance does a good job of calculating risk to try and avoid it going under. It’s why the market is hardening in a lot of different areas right now (Property, Auto, Transportation). But there are catastrophic events that really hurt the industry. One such one was the fires in nor cal that burned down the wineries in 2018. That had more of an effect on property coverage than the fires this past January. Billions of dollars in losses from the wineries which shifted the market.
Creative_Ranger5636@reddit
seems like people will have to start migrating north very soon when the general population realizes what a disaster the south will be.
ScooterandTweak@reddit
Yeah I think the Great Lakes region is going to see a population boom these next 50-60 years because of insurance making it unaffordable to own property.
LateMiddleAge@reddit
Like this.
EveningService4383@reddit
Now they’re worried?
feo_sucio@reddit
I tell my cousin who lives in Fart Louderdale that her and her family should consider leaving Florida because insurers are moving out of the state, indicating that the monied powers that be are anticipating endless major disasters. She told me not to worry, her house is insured. She couldn’t even pretend to understand that I was worried about her and her family’s safety, not the stupid fucking insurance. Oh well, bless her heart. If a big hurricane comes and fucks her life up, I’m not above saying “I told you so.”
SuperNewk@reddit
So Florida will be a haven for rich People. The poor have to leave since the can’t rebuild. The rich will enjoy less traffic and empty beaches as they can afford to rebuild 100x over
feo_sucio@reddit
As if the rich want to constantly rebuild their houses in comparison?
SuperNewk@reddit
Charlie Munger highlighted this in his book. He doesn’t have insurance on his homes because he is financially responsible and can rebuild them if they burn down.
Yes the rich would actually like it, what you are talking about is upper middle class who can’t rebuild. I am talking about the rich bringing in excess of 100-800 million a year
Py687@reddit
Lmaooooi
bubbaT88@reddit
I’m so sick and tired of talking to friends and family who live in Florida. I do not feel bad for their choices anymore. There is cheaper states to live in that you can get your house actually insured. Just because it is now doesn’t mean that won’t change. Talk to people who live in Houston, Palisades, Asheville, and places like Boulder where fire and floods have destroyed so many neighborhoods you cannot get insurance now or it’s so expensive you are forced to leave. I’m speaking from direct experience being a homeowner during the Marshal Fire.
Quay-Z@reddit
I was in Boulder for the flood. That was wild. The place was never the same after. I left.
bubbaT88@reddit
Yes the boulder flood too! Lots of people got priced out of insurance after that.
mangafan96@reddit
As a Broward County Native, she should absolutely leave.
feo_sucio@reddit
In a different conversation I told her that crypto is a “bigger fool” scam and she responded “it isn’t, here’s why” and then proceeded to ask chatgpt to explain how crypto works, then sent me the screenshots of what it said, completely missing the point that she doesn’t understand whatsoever.
She’s…a few tools short of a complete set. Can’t pick your family I guess, but I still wish her the best and hope she makes some good choices before it’s too late.
Shrewta@reddit
Yeah, that's major "I told you so" territory
LakeSun@reddit
They get screwed by Republican Propaganda, and then thank them for it.
Shrewta@reddit
Republican propaganda is an opiate for the masses. Simple and easy to understand problems with clear villains. All those pesky complex problems are just liberal hoaxes.
Middle_Manager_Karen@reddit
Sell while insured because it is much harder to sell when not
HuntForFredOctober@reddit
This is why my personal climate 'conspiracy theory' is that T-Rump is all hot and bothered to take over Greenland and Canada, because of the need to shuffle coastal folks to higher, dryer, cooler ground. Those areas that are currently cold will become more temperate as time passes.
Just sayin'...
JackBlackBowserSlaps@reddit
Lol, it’s hilarious that you think that he thinks about other people.
Antique-Mouse-4209@reddit
I think it's the untapped rare earth metals. Can't keep up our technologies or build super AGI without them.
geft@reddit
Rare earth is not rare. Processing it however, is extremely polluting and expensive.
LateMiddleAge@reddit
The other theories are better but I like Mar a Lago (3' - 6' above high tide) property value. Something he can understand.
Flat_Tomatillo2232@reddit
He keeps saying "hot" all of a sudden. He says the USA is hot. He says everything is hot. I keep wondering if he's getting briefings and somehow through his addled mind the truth is making its way out.
jedrider@reddit
I think that if insurance companies want to up our rates, they should spell out the various hazards and assign a rate to each one. Antarctica, 15% levy, the Arctic, another 15% levy, Climate Change, 25% levy, etc.
01000101010110@reddit
All insurance should be through the government - private companies are incentivized to gouge customers and they have been getting hammered by recent natural disasters all over the continent.
Illustrious_Entry413@reddit
Sounds like socialism
01000101010110@reddit
Whatever the hell this is, ain't working.
thoeby@reddit
Worse. They often know what it means but are so brainwashed into 'but it wouldn't work any other way' that they cant even consider anything else. Even if they fully understand it.
Like: We have to pay taxes but its not enough to keep the government going. So the government takes out loans but not from central banks that print money - they ask private banks/entities to take out bonds/loans and then those people take those loans and use it as securities with the central bank. And the central bank prints money depending on demand - so we have a central bank printing money to keep the government afloat and private banks taking a cut. Why couldn't we just take out the middle man an print whatever is needed? Almost all of those people answer because that would cause inflation - but it does anyways, but we are tricked into 'its okay that way, we cant just print money as we want' - while we still do.
CannyGardener@reddit
I mean... can you show me a demonstrably functioning society/culture/country that is not reliant on capitalism to make trade work? The capitalists think the same of statements like this, "You guys are just uneducated." No capitalism is not perfect, but show me a better way that has been successfully implemented, and I'll believe we should go a different direction.
AntcuFaalb@reddit
You can't test if crows are smarter than foxes by sticking one with clipped wings in an environment teeming with foxes.
CannyGardener@reddit
If a system cannot withstand its neighbors then it cannot exist in reality. My point is that there are no systems other than capitalism that have worked in the real world...where some neighbors might very well be foxes. Communism, Socialism, communes, and on and on, they generally don't work because they can't exist in a vacuum, and as a result are not real solutions to the problem of finding a better system. =\
ruskifreak@reddit
/s, right?
FunnyMustache@reddit
And?
SidewalkSlammie17@reddit
Awful take lmfao
unnamedpeaks@reddit
At what point will you be upset about paying more for people who chose to buy in flood or fire zones....public risk pools don't solve this.
Stylux@reddit
The state governments already are the payor of last resort.
Mountain_Fig_9253@reddit
Government insurance isn’t necessarily better. The NFIP has kept rates far too low for the rich folks on the coast for far too long due to political pressures. The solvency of the program will now require congressional funding for the next large flood, and those that are far inland are paying much high rates than they should be for their risk to subsidize the coastal properties.
I switched to a private insurance company this year and saved a significant amount of money. With this government in place there is no guarantee that NFIP will remain solvent when I need them so why pay extra for that?
qdilly@reddit
Why are they worried? They aren’t gonna cover that shit lol.
SidKafizz@reddit
Insurance industry? What, exactly do they produce? And don't say 'satisfied customers'.
zdiddy987@reddit
Couldn't the government act as a non-profit insurance company?
sherpa17@reddit
In theory. But the medical industry has shown the challenges of this approach.
anonymous_matt@reddit
k.... so why do you think that might be?
sherpa17@reddit
In theory. But the medical industry has shown the challenges of this approach.
remesamala@reddit
Because everyone can move to a land where predators like insurance companies don’t exist?
duncansmydog@reddit
Actuaries at insurance companies are who will inevitably kill our current capitalistic economic system. Capitalism dies when insurers refuse to insure
n0nati0n@reddit
and the reinsurers refuse to reinsure
Far_Out_6and_2@reddit
Have to give it up and move inland
BicycleKey7180@reddit
Oh they are concerned about much more than some water…
ga-co@reddit
And home insurance rates in Florida keep going up. Sure, part of that can be explained by higher construction costs, but the rest? Warmer waters create larger hurricanes.
Big_Dependent_8212@reddit
If only every corporation's #1 priority wasn't only exponential growth
winston_obrien@reddit
Always follow the money
_rihter@reddit
Eventually, it leads to bunkers.
anonymous_matt@reddit
Eventually? Well nowadays it leads to bunkers, long term.
Flat_Tomatillo2232@reddit
Follow the bunkers
everlastingmuse@reddit
they lead to the anunnaki! jk lol
n0k0@reddit
Ancient Alien Theorists say "Yes!"
BEERsandBURGERs@reddit
It's one the most interesting news outlets in Europe...;)
https://www.ftm.eu/
MyNameAintWheels@reddit
Oh, well, if the insurance companies care
Someones_Dream_Guy@reddit
American-style insurance is a scam anyway.
HolyMoleyGuacamoly@reddit
billionaires do not care…they will at some point, but they really don’t right now
morning6am@reddit
Money talks!
BEERsandBURGERs@reddit
Whoa Nellie! The climate crises will wipe trillions of dollars of wealth? Besides wrecking earth as we know it and killing billions of people in a couple of decades? Who would have thought? Well...(re)insurance companies have been warning for quite a while...
Just like the climate scientists have, for fucking decades. But I guess portfolio losses weren't their biggest concern, silly climate scientists with their concern for people+planet... (/s)
This 'snowball' is finally rolling downhill, picking up momentum and growing in size...
https://www.cnbc.com/2025/08/08/climate-insurers-are-worried-the-world-could-soon-become-uninsurable-.html
https://www.linkedin.com/pulse/climate-risk-insurance-future-capitalism-g%C3%BCnther-thallinger-smw5f/?trackingId=czghjwTpRiCxXxgw%2FFG7Nw%3D%3D
https://www.zurich.com/knowledge/topics/climate-change/strategies-for-building-resilience-in-a-more-volatile-world
Romano16@reddit
The DOD and Insurance Companies know how bad the climate will soon be yet their top brass, handlers, big oil tycoons, etc just keep on as business as usual.
Striper_Cape@reddit
https://www.swissre.com/media/press-release/pr-20250806-wildfires-thunderstorms-global-insured-losses-first-half-2025.html
From the Horse's mouth
magnetar_industries@reddit
This paper has a lot of good nuggets in it. I'm struck by this line:
That means a doubling of losses every 10-14 years (my reading of their chart looks closer to doubling every 10 years). At some point the premiums will become unsustainable and the entire industry will collapse.
CannyGardener@reddit
Been trying to explain this to my dad. He is in finance, so these stats actually help a lot. In his world, the power of compound interest is a huge driving force, and 7% is a sort of magic number for him, since it means money doubles every 10 years or something. Hopefully this helps click things into place. That said, I bet the rebuttal is that "Inflation would have caused similar increases in damage costs over time."
magnetar_industries@reddit
The average annual U.S. inflation rate over the last 10 years (from 2015 to 2024) was approximately 2.5%.
If your dad can get 7% every year, he should start his own hedge fund, and I'd like to hand over all of my meagre savings as his first customer.
rematar@reddit
The S&P500 5 year return is over 14%
https://us500.com/tools/returns/sp500-returns-by-year
Striper_Cape@reddit
Which is exactly why I tell people I'm not worried, I'm certain. We're looking at collapse by the mid 2030's
Cultural-Answer-321@reddit
Here's a good video as well.
https://youtu.be/3FYFJNKgJR0?si=XaafNwsr4kxiB7un
Jose_xixpac@reddit
Breaking: Insurance companies raise rates as sea water rises and fires increase, then cancels flood and fire insurance coverage ..
6502zx81@reddit
Insurance may fail, but not insurance companies.
Cultural-Answer-321@reddit
Do you know how insurance companies really make money? They invest in the stock market and such. If they can no longer insure large markets of anything, the stock market also collapses.
Oops.
NoseRepresentative@reddit (OP)
Mark Cuban stirred up discussion when he posted on X, “The insurance industry is concerned about melting ice in Antarctica,” linking to an article from Insurance Business Magazine.
The post has since sparked questions about how climate change is reshaping not just the environment, but the way insurers think about risk.
Cultural-Answer-321@reddit
Oh they known for a while as they've denied it the whole time.
https://youtu.be/3FYFJNKgJR0?si=XaafNwsr4kxiB7un
How the world's biggest bank is bracing for climate catastrophe
futuriztic@reddit
BREAKING: insurance agencies limbral communist socialist extremists!
Sapient_Cephalopod@reddit
well, ya think?!
Bright_Curve_8417@reddit
And now capitalism runs headlong into the brick wall of reality that it has spent the last half century or so denying/downplaying
StatementBot@reddit
The following submission statement was provided by /u/NoseRepresentative:
Mark Cuban stirred up discussion when he posted on X, “The insurance industry is concerned about melting ice in Antarctica,” linking to an article from Insurance Business Magazine.
The post has since sparked questions about how climate change is reshaping not just the environment, but the way insurers think about risk.
Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/1n1nart/mark_cuban_says_the_insurance_industry_is/nazdrem/