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#insurers

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Public
O=C=O

Capitalism Eating Itself by Fueling Climate Mayhem, Warns Capitalist

If humanity stays on current course, warns top insurer, the "financial sector as we know it ceases to function. And with it, capitalism as we know it ceases to be viable."

According to GüntherThallinger, a former top executive at Germany's branch of the consulting giant #McKinsey & Company and currently a board member of #Allianz SE, one of the largest insurance companies in the world, the #ClimateCrisis is on a path to destroy #capitalism as we know it.

"We are fast approaching temperature levels—1.5C, 2C, 3C—where #insurers will no longer be able to offer coverage for many" of the risks associated with the #climate crisis, Thallinger writes in a recent post highlighted Thursday by #TheGuardian.

There is no way to "adapt" to temperatures beyond human tolerance. There is limited adaptation to #megafires, other than not building near #forests. Whole cities built on flood plains cannot simply pick up and move uphill. And as temperatures continue to rise, adaptation itself becomes economically unviable.

Once we reach 3°C of warming, the situation locks in. Atmospheric energy at this level will persist for 100+ years due to carbon cycle inertia and the absence of scalable industrial carbon removal technologies. There is no known pathway to return to pre-2°C conditions. (See: #IPCC AR6, 2023; NASA Earth Observatory: "The Long-Term Warming Commitment")

At that point, risk cannot be transferred (no insurance), risk cannot be absorbed (no public capacity), and risk cannot be adapted to (physical limits exceeded). That means no more mortgages, no new real estate development, no long-term investment, no financial stability. The financial sector as we know it ceases to function. And with it, capitalism as we know it ceases to be viable.

commondreams.org/news/capitali

Common Dreams · Capitalism Eating Itself by Fueling Climate Mayhem, Warns Capitalist | Common DreamsIf humanity stays on current course, warns top insurer, the "financial sector as we know it ceases to function. And with it, capitalism as we know it ceases to be viable."
Public
Alo Japan

alojapan.com/1231638/japans-in Japan’s insurers beef up offerings to minimize food loss #beef #food #insurers #Japan #JapanNews #JapanTopics #Japans #Loss #minimize #news #offerings TOKYO — Japanese nonlife insurers are expanding their products and services to help reduce food loss as concerns grow regarding food waste in the country. In the coming months, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance are each set to launch plans to cover the costs of rese…

Japan's insurers beef up offerings to minimize food loss
Replied in thread
Public
CelloMom On Cars

"A California state senator said Monday that he wants to give homeowners and insurers the ability to sue oil and gas companies when a disaster caused by #ClimateChange damages their property.

Senate Bill 222 also would provide #insurers with a direct cause of action against oil and gas companies. They could recover losses resulting from climate impacts and rising costs looming over the insurance market and the state’s FAIR Plan."

courthousenews.com/california-

Public
sheislaurence

The #California FAIR plan, a private pool of #insurers covering people who cannot otherewise secure #insurance for their homes, is the last one open after #fire burnt #Palisades to the ground. It is estimated payout costs to FAIR alone will be between $6-13bn, escept FAIR only has... $385 MILLION in reserves. WTF happened to the money? Confident other companies equally fucked off with no means of paying out. Welcome to #2025 Murica! channel4.com/news/how-la-fires

Channel 4 News · How LA fires and climate change are fuelling US insurance crisisWith LA still under a red flag alert and new fires having to be dealt with, the impact on the ability of local people to insure their homes is under the spotlight.
Public
Steve Dustcircle 🌹

#DelayDenyDefend #Author: #Americans’ Rage At #Insurers

popularresistance.org/delay-de
#healthcare #USA #healthinsurance

PopularResistance.Org · ‘Delay, Deny, Defend’ Author: Americans’ Rage At Insurers - PopularResistance.OrgMy book “Delay, Deny, Defend: Why Insurance Companies Don’t Pay Claims and What You Can Do About It” was thrust into the spotlight recently, after UnitedHealthcare CEO Brian Thompson was shot and killed in what authorities say was a targeted attack outside the company’s annual investors conference. Investigators at the scene found bullet casings inscribed with the words “delay,” “deny” and “depose.” The unsettling echo of the book’s title struck me and many others. That killing – and the torrent of online outrage that followed – put Americans’ unhappiness with health insurers at the front of the national conversation.
Public
Alex@rtnVFRmedia Suffolk UK

A low mileage #Mercedes #EV randomly caught #fire outside a house in #Northamptonshire #England - the family and their 4 #dogs were able to escape via the back door unharmed, but will be waiting 6 months for #insurers to approve repairs to the house (Mercedes are investigating and have provided them with a loan car in the meantime)

itv.com/news/anglia/2024-10-28

Public
Nonilex

#Texas sued the #Biden admin in an effort to block a new rule that seeks to protect the #privacy of #women living in states that #BanAbortion who travel out of state for the procedure.

In a lawsuit filed on Wed in TX, the state asked a federal judge to strike down the rule, which prohibits #healthcare providers & #insurers from giving state #law enforcement authorities info about #ReproductiveHealthcare that is #legal where it was provided.

#ReproductiveRights #HIPAA
reuters.com/legal/texas-sues-b

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Public
Nonilex

In his letter to GAO, #BernieSanders cites a recent investigation by the state of VT that found 3 #insurers wrongly charged residents >$1.5M for #contraception. A 2022 investigation by the #House #Oversight Cmte found that #HealthInsurance companies persistently denied their members’ requests for no-cost #contraceptives. Some insurers deny coverage for certain brand-name contraceptives, saying they cover generic versions that are therapeutically *equivalent*.

#law#ReproductiveRights#health
Public
PrivacyDigest

Data broker shuts down product related to driver #behavior patterns

That data broker, #Verisk, disclosed last month that it has stopped accepting data from #car makers and no longer sells the information to #insurers , according to the organization #Privacy4Cars, which received the response after sending the data broker an inquiry.
#privacy #tracking #surveillance #databroker #cars

therecord.media/data-broker-sh

therecord.mediaData broker shuts down product related to driver behavior patternsVerisk recently disclosed that it has stopped accepting data from car makers and no longer sells it to insurers.
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Nonilex

The effort to expand #access to #contraception involves several measures. Federal agencies are issuing guidance that would make no-cost #contraceptives more available under the #AffordableCareAct & take similar actions to expand contraception access for federal employees. HHS Secy Xavier Becerra also plans to send a letter to #health #insurers instructing them of their obligation to provide no-cost contraceptives, acc/to a memo the #Biden WH sent to reporters Sun.

#Abortion#AbortionRights#law
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Emeritus Prof Christopher May

Later this week the UK's #SupremeCourt will decide on an important issue for the medical profession, the #NHS & #insurers:

'Can an individual make a claim for psychiatric injury caused by witnessing the death or other horrifying event of a close relative as a result of earlier clinical negligence?'

Here's Joshua Rozenberg setting out the context for these cases where the Court(s) of Appeal decided for the clinicians.

Might this change how we engage with the NHS?

rozenberg.substack.com/p/can-b

A Lawyer Writes · Can bereaved families sue doctors?By Joshua Rozenberg
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Public
Nonilex

"A #trial is a search for the #truth," Justice #Engoron began his ruling, adding that the public has the right to "every person's #evidence."

Engoron also ruled that #Ivanka would not take the #WitnessStand before Wed, Nov 1, 2023, in order to give her the opportunity to #appeal.

#Trump & his sons #EricTrump & #DonaldTrumpJr have been on trial for the better part of 4 wks over claims that they fraudulently inflated assets on statements of #financial condition submitted to #banks & #insurers.

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