More Climate Change drivel from Insurance Journal. You sleepy? I’m sleepy.
Here is a powerful insight from someone who never studied Climate Change, isn’t a Climate Scientist, and has no greater insight than personal experience. From the article:
“Kaisel, who lost more than $15,000 in the Capay Valley fires, expects to get $2,500 from his insurer and managed to raise the rest via an online fundraiser.
He would like to insure future risks once his five-year-old business growing specialized grains and milling them into flour starts making a profit — but the unpredictable impact of global warming means he is not sure exactly what the risks will be.
“For folks like me it’s not some far off possibility, it’s here and now,” he said of climate change. “It’s happening.”
Kaisel wasn’t commenting on climate change – he was commenting on his insurance policy. You only need basic knowledge of where gaps exist in your policy (especially after a loss when you know what exactly the carrier is excluding) to understand you need better coverage against additional perils. That’s what Kaisel was saying, not “I proved man-made climate change is real” like you make it seem.
What part of the quote did you not understand? The part where he said, “it’s happening”? Or the part where he said “it’s here and now”?
What is wrong with you, anyway? If Insurance Journal published a quote from some random small business owner saying “Climate Change is a total hoax.”, would you defend it? Of course not.
So, still mis-quoting articles and drawing conclusions that aren’t there to help your argument? You’re transparent and boring, Craig. You bring nothing to the table but sarcasm and negativity, maybe try to actually approach the problem with a realistic critical thinking mind instead of just deny deny deny.
What’s up with the hate, Craig? Did I kick your dog, run over your cat, or set your house on fire?
We’ve had dozens of discussions where you have agreed Climate Change is happening … it’s MAN-MADE Climate Change that you keep arguing you not believe in.
Let’s look at that quote. “For folks like me it’s not some far off possibility, it’s here and now,” he said of climate change. “It’s happening.”
Now let’s look at what I said. “…Kaisel was [not] saying, ‘I proved man-made climate change is real’ like you make it seem.”
So all 3 of us agree Climate Change is happening. Good talk…good talk.
Clown comment. My point was: why should Insurance Journal publish anything with a heading about Climate Change and then quote some random business dude.
And you and I disagree COMPLETELY on what we actually know about Climate Change, but that is besides the point.
It is Propaganda to publish anything on a scientific subject based on a comment from some random person with NO expertise on the science. Man up. You inserted the “I proved it” nonsense; clearly, this guy thinks the fire was due to Climate Change when there is . . . wait for it . . . ZERO scientific evidence for that point.
And so my point remains the same: who cares what he thinks? (except the Religious Believers like you and Insurance Journal).
September 20, 2019 at 4:59 pm
Rosenblatt says:
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There were 8 paragraphs about Kaisel and 28 (TWENTY EIGHT!!!!) about insurance … more than three-quarters (77%) of the article was about insurance!!
September 20, 2019 at 5:34 pm
Craig Cornell says:
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Correct. What the hell was Kaisel even doing in there except to spout the True Religion? Editorial Choice, big boy. Not an accident, and YOU defended it.
September 20, 2019 at 6:16 pm
Rosenblatt says:
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It was an anecdote that directly related to insurance
Also, literally you a few minutes ago:
Craig Cornell says:
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Personal insults and name calling to follow in 3 . . . 2. . . 1 . . .
But:
SEPTEMBER 20, 2019 AT 3:14 PM
Agent says:
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Craig, the IJ takes Climate Change drivel to a new level.
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SEPTEMBER 20, 2019 AT 4:38 PM
Captain Planet says:
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“Really, are you sure about that comment, Agent?”
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SEPTEMBER 20, 2019 AT 4:39 PM
Jon says:
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All you ever do is complain, why are you here? Go whine on the donald reddit board or something?
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SEPTEMBER 20, 2019 AT 4:44 PM
Craig Cornell says:
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Says the Clown who can’t refrain from insulting someone in every comment.
You are a hypocrite. Try to own up to your crappy behavior at least, coward.
Like, how does this behavior work for him in real life? If you’re doing business with someone and you make a mistake do you just kill the business relationship by denying you did any such thing? How does this type of cowardice work out for you in the real world? Because it’s insufferable online.
Let me see if I understand this. The insurance industry has the US government subsidizng risk along the coast to promote over development there which the industry sponsors through mortgages and investements Now they claim this concentration of risk is at risk because of climate change and people actually believe this inanity . Amazing.
Where did Global Warming go??? All of a sudden that has been retired and Climate Change used instead. Maybe the uber libs have finally mastered the concept that the earth’s climate changes and its not all because of us…….now work on cycles and that they cannot change so maybe they’ll finally get it right.
It is remarkable that if you read the science on a weekly basis, the confidence level in what we know about Climate Change has gone DOWN for years. And this is from True Believers like the IPCC, NOAA, NASA and others, not to mention independent scientists who keep pointing out that the historical temperature data keeps changing for some reason.
Not to mention the growing science about the impossibility of stopping the warming with renewables like wind and solar. It is a sad joke that we even pretend those are serious options; they aren’t. Solar can’t scale and wind has massive transmission and environmental problems in addition to being the demon for the nature crowd, what with bird deaths and ugly and noisy turbines..
And it is so telling that Insurance Journal NEVER publishes any of that science. It is all Religion at this point.
You don’t even see IJ publish the GOOD news about climate change: that we can stop 2/3 of the threat, according to nearly all Climate Scientists, but just planting millions and millions of trees. (Not to mention clean nuclear power, if we only have “12 years” left.)
Once again you’re just posting garbage right-wing rhetoric, not actually looking at the science. You get your science from places like RealClearPolitics, not actually scientists.
There are a few people who still use the term ‘settled science’ about MAN-MADE Global Warming. Unfortunately, far too many such people are teaching our children this huge lie.
Recent studies have questioned those hoaxers assertion that there is a temperature norm that we are currently exceeding due to MANS’ ACTIVITIES. The ‘normal temperature’ is not something that one man or one biased research group can decide on. We should be concerned with the impacts of the NATURAL climate cycles, and not instantaneous changes from a prior, recent temperature level. If Earth’s geophysical cycles continue, and they will, there will be temperature extremes that we merely have to ‘weather’ (pun intended) until the cycle swings back to the other extreme, passing moderate levels on the way.
Adaptation was the downfall of dinosaurs and other species. Man will eventually disappear from the Earth…. in a cloud of nuclear dust, or when a large meteor hits. But we can live through climate changes that we CANNOT control.
Hey Polar, care to offer any actual evidence of your studies? Maybe name a study in particular? How about this:
Did you see the study by Aaron McCright and Riley Dunlap of Michigan State University and Oklahoma State University respectively that found that, no surprises here, conservative white men are more concerned with maintaining a (vanishing) order than tackling climate change? More generally conservative white men are likely to favor protection of the industrial capitalist order, which has historically served them well. The Huffington Post actually recently had a poll, which found that virtually every group in the United States is concerned about the climate change crisis EXCEPT older republicans.
See? It’s actually quite easy to use facts to discuss a topic at hand. As it stands, most of what you posted is unverified garbage! Thanks for playing!
What in the hell is this? So white men supporting industrial capitalism is preserving their white man order?
It doesn’t matter what polls show on concerns, I’ve already gone over the study, there is not a 97% consensus that we need to tackle climate change or there will be severe consequences, there IS consensus that climate change is affected by man. There is a substantial difference in the consensus on the severity, and this is where republicans disagree, when we call it a hoax, we call it a hoax of the severity vs the democrats literally trying to power grab the entire economy to control it. That is a far higher risk, the power grab. But you have not at all considered this risk, because well, democrats are holy to you and republicans are evil.
September 25, 2019 at 2:25 pm
bob says:
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“What in the hell is this? So white men supporting industrial capitalism is preserving their white man order? ”
And what is crazy here is that I actually realized you are so indoctrinated I actually have to add that this was my way of saying: Absolutely false. This is so beyond racial to you, and you are actually racist assuming it, that I cannot believe it. This is far beyond any white supremacist I have ever seen. You want to destroy capitalism because you believe it benefits white men more. This is more catastrophic of an ideal than ANY person here, and the fact that the rosenblatts don’t see it as a threat, is mind boggling. Perhaps when we all revert to a form of racial communism you’ll see how similar it is to Nazism, this Jon guy. Maybe then you’ll take that movement on the left seriously. Jon is not the only one. There is no one calling for a new white order. This is ludicrous you let this man get away with this nonsense.
September 25, 2019 at 2:58 pm
JON says:
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LOL I don’t have the time to school you on things I’ve literally already schooled you on, hypocritical fascist pretending to be a moderate!
September 25, 2019 at 4:04 pm
Rosenblatt says:
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“…and the fact that the rosenblatts don’t see it as a threat”
You just threw me into a conversation I wasn’t participating in solely to attack me? That is beyond childish and immature, and it is FAR from debating honestly or with integrity.
Name dropping someone out of the blue and attacking their character by saying they’re blind to (what you perceive is) racism is despicable.
You should be ashamed of yourself with what you just did there.
September 25, 2019 at 4:11 pm
Jon says:
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LOL it’s not racist, I didn’t make something up, that’s an actual study I cited. I even noted the study’s authors, look it up. Sorry you don’t like things like facts clouding your misinformation, but I actually provided the reference for my statements. You should try it sometime.
LOL you LITERALLY have nazis on your side Bob. Try to keep up when you’re not dishing out needless attacks and “nuh-uh!” responses.
September 26, 2019 at 9:44 am
helpingout says:
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Hey there Bob!
Do you understand racism? I don’t know if it is racist to point out polls that indicate a group of people that support something. Racism is “prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one’s own race is superior.” By highlighting that white men support maintaining protections of capitalism in lieu of supporting climate change is a point of fact rather than anything that falls under racism.
I really think it is funny how often people try to play the race when racism is not involved. Did he make a derogatory remark about being white? No? Was he hostile? No? Did he point out what a group of people support? Yes? Okay cool he made a statement rather than a racist remark.
Also thanks for name dropping people that have nothing to do with conversations, I think you should hold yourself to a higher standard since you have been part of the issue getting comment sections shut down.
September 20, 2019 at 5:57 pm
Larry Logic says:
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NEWS FLASH: There has ALWAYS been climate change. 20 years ago or so, the news media was predicting an ICE AGE! We need to grow up and look at the long view over decades of time—not have knee-jerk reactions in the short term. Unless China works on it, we can’t really make a dent, and even if all countries help, there’s not a lot we can do. Just realize we have always experienced climate change, probably from more or less solar activity!
This is defeatist and cowardly, and lacks any accountability. “He’s doing it, why shouldn’t I?” isn’t the way to run a country. Especially from a country so concerned with “making america great again” why don’t you try and actually make america great instead of whining about China? Additionally, “we can’t really make a dent” says who? The EPA controlled by the oil industry? The fact is it will be costly, and big business is more concerned with the bottom line than with the planet’s future. Common Sense Cathy says it’s pretty clear that the industries pumping waste into our environment don’t actually care about the planet, just their profits. Open your eyes.
There is nothing defeatist about stating facts. There will be no ‘defeat’ by the Earth’s climate until a nuclear bomb is detonated or a large meteor strikes Earth and pollutes the atmosphere to create a ‘prolonged or permanent winter’.
You’re an ALARMIST. Much worse than a REALIST (not defeatist). REALISTS have a chance to fix problems they identify. ALARMISTS panic and pursue the WRONG solutions.
There is actually, especially because your “facts” are fluid and change depending on the argument. You don’t use knowledge or fact in a consistent manner, you have an end result in mind and you bend the above to reach your conclusion. Go ahead and put things in CAPS, you’re still denying evidence and fact at the risk of the world’s future to benefit the 1%. You’re a shill for big business.
Remove your 1% argument bull. Try the 99% who will be affected by the economic power that 1% will receive when democrats use this to take over the economy.
LOL you’re really slipping man, you grasp of logic doesn’t appear to gel with reality these days.
September 26, 2019 at 1:17 pm
Jack says:
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Anyone care to explain why FEMA is lowering base flood elevations here in parts of SC by up to 4 feet if the sea levels are rising……asking for a friend.
“The data show total insured losses from natural catastrophes are up from less than $7 billion a year in the 1970s to between $29.3 billion and $143.4 billion a year from 2010 to 2018. In 2018, 62% of all natural catastrophe insurance claims came from secondary perils.”
Why no mention of the increased cost of reconstruction in these figures? Maybe materials and the cost of labor have gone up a little? Maybe new building codes caused an increase? Maybe a little fraud involved in the hail claims, ya know how those roof claims get paid sometimes?
Catastrophe exposures have increased via new construction in ‘cat zones’ in the pathways of hurricanes. Thus, cat loss amounts increase. That is a frequency increase component of the overall claim cost increase. The severity increase component is a combination of several factors, including building code changes and special features of homes that have been used in new construction recently; e.g. solar panels on roofs and emergency generators on the premises.
Those who are involved in XS product pricing / underwriting understand why there is a leveraged increase in Cat XS losses. Those who visit this site to troll and know nothing about insurance, and hence do not discuss insurance, will never know why there is leveraging of XS cat claims.
Where’s your evidence of any of that? You’re just posing maybes as an excuse for actual hard statistical data. You would like us to keep our eyes shut and our fingers in our ears, we’re all well aware. The fact is you don’t actually have any evidence to support an increase of that size. The idea that over $100b increase is because of fraudulent claims and cost of labor is laughably pathetic. Aside from the other data that supports the fact that the catastrophe costs have gone up, like you know, the record numbers of hurricanes passing through each season now. Pathetic little boys.
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Kaisel wasn’t commenting on climate change – he was commenting on his insurance policy. You only need basic knowledge of where gaps exist in your policy (especially after a loss when you know what exactly the carrier is excluding) to understand you need better coverage against additional perils. That’s what Kaisel was saying, not “I proved man-made climate change is real” like you make it seem.
What part of the quote did you not understand? The part where he said, “it’s happening”? Or the part where he said “it’s here and now”?
What is wrong with you, anyway? If Insurance Journal published a quote from some random small business owner saying “Climate Change is a total hoax.”, would you defend it? Of course not.
So, still mis-quoting articles and drawing conclusions that aren’t there to help your argument? You’re transparent and boring, Craig. You bring nothing to the table but sarcasm and negativity, maybe try to actually approach the problem with a realistic critical thinking mind instead of just deny deny deny.
What’s up with the hate, Craig? Did I kick your dog, run over your cat, or set your house on fire?
We’ve had dozens of discussions where you have agreed Climate Change is happening … it’s MAN-MADE Climate Change that you keep arguing you not believe in.
Let’s look at that quote. “For folks like me it’s not some far off possibility, it’s here and now,” he said of climate change. “It’s happening.”
Now let’s look at what I said. “…Kaisel was [not] saying, ‘I proved man-made climate change is real’ like you make it seem.”
So all 3 of us agree Climate Change is happening. Good talk…good talk.
Clown comment. My point was: why should Insurance Journal publish anything with a heading about Climate Change and then quote some random business dude.
And you and I disagree COMPLETELY on what we actually know about Climate Change, but that is besides the point.
It is Propaganda to publish anything on a scientific subject based on a comment from some random person with NO expertise on the science. Man up. You inserted the “I proved it” nonsense; clearly, this guy thinks the fire was due to Climate Change when there is . . . wait for it . . . ZERO scientific evidence for that point.
And so my point remains the same: who cares what he thinks? (except the Religious Believers like you and Insurance Journal).
There were 8 paragraphs about Kaisel and 28 (TWENTY EIGHT!!!!) about insurance … more than three-quarters (77%) of the article was about insurance!!
Correct. What the hell was Kaisel even doing in there except to spout the True Religion? Editorial Choice, big boy. Not an accident, and YOU defended it.
It was an anecdote that directly related to insurance
Hidden due to low comment rating. Click here to see.
“Really, are you sure about that comment, Agent?”
– The ENTIRE Science Community
All you ever do is complain, why are you here? Go whine on the donald reddit board or something?
pot meet kettle
Also, literally you a few minutes ago:
Craig Cornell says:
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Personal insults and name calling to follow in 3 . . . 2. . . 1 . . .
But:
SEPTEMBER 20, 2019 AT 3:14 PM
Agent says:
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Craig, the IJ takes Climate Change drivel to a new level.
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SEPTEMBER 20, 2019 AT 4:38 PM
Captain Planet says:
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SEPTEMBER 20, 2019 AT 4:39 PM
Jon says:
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All you ever do is complain, why are you here? Go whine on the donald reddit board or something?
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SEPTEMBER 20, 2019 AT 4:44 PM
Craig Cornell says:
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Says the Clown who can’t refrain from insulting someone in every comment.
You are a hypocrite. Try to own up to your crappy behavior at least, coward.
Crybaby? “Craig Cornell says:
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Says the Clown who can’t refrain from insulting someone in every comment”
Like, how does this behavior work for him in real life? If you’re doing business with someone and you make a mistake do you just kill the business relationship by denying you did any such thing? How does this type of cowardice work out for you in the real world? Because it’s insufferable online.
That would again, be flipped, and is you.
So you’re back to trying the “I know you are but what am I!” argument style? Boring.
Cha-Ching! See the the words “climate change”, jack up premiums. And so subtle…
Let me see if I understand this. The insurance industry has the US government subsidizng risk along the coast to promote over development there which the industry sponsors through mortgages and investements Now they claim this concentration of risk is at risk because of climate change and people actually believe this inanity . Amazing.
Where did Global Warming go??? All of a sudden that has been retired and Climate Change used instead. Maybe the uber libs have finally mastered the concept that the earth’s climate changes and its not all because of us…….now work on cycles and that they cannot change so maybe they’ll finally get it right.
It is remarkable that if you read the science on a weekly basis, the confidence level in what we know about Climate Change has gone DOWN for years. And this is from True Believers like the IPCC, NOAA, NASA and others, not to mention independent scientists who keep pointing out that the historical temperature data keeps changing for some reason.
Not to mention the growing science about the impossibility of stopping the warming with renewables like wind and solar. It is a sad joke that we even pretend those are serious options; they aren’t. Solar can’t scale and wind has massive transmission and environmental problems in addition to being the demon for the nature crowd, what with bird deaths and ugly and noisy turbines..
And it is so telling that Insurance Journal NEVER publishes any of that science. It is all Religion at this point.
You don’t even see IJ publish the GOOD news about climate change: that we can stop 2/3 of the threat, according to nearly all Climate Scientists, but just planting millions and millions of trees. (Not to mention clean nuclear power, if we only have “12 years” left.)
But Bubba from California says he believes!
Once again you’re just posting garbage right-wing rhetoric, not actually looking at the science. You get your science from places like RealClearPolitics, not actually scientists.
There are a few people who still use the term ‘settled science’ about MAN-MADE Global Warming. Unfortunately, far too many such people are teaching our children this huge lie.
Recent studies have questioned those hoaxers assertion that there is a temperature norm that we are currently exceeding due to MANS’ ACTIVITIES. The ‘normal temperature’ is not something that one man or one biased research group can decide on. We should be concerned with the impacts of the NATURAL climate cycles, and not instantaneous changes from a prior, recent temperature level. If Earth’s geophysical cycles continue, and they will, there will be temperature extremes that we merely have to ‘weather’ (pun intended) until the cycle swings back to the other extreme, passing moderate levels on the way.
Adaptation was the downfall of dinosaurs and other species. Man will eventually disappear from the Earth…. in a cloud of nuclear dust, or when a large meteor hits. But we can live through climate changes that we CANNOT control.
Hey Polar, care to offer any actual evidence of your studies? Maybe name a study in particular? How about this:
Did you see the study by Aaron McCright and Riley Dunlap of Michigan State University and Oklahoma State University respectively that found that, no surprises here, conservative white men are more concerned with maintaining a (vanishing) order than tackling climate change? More generally conservative white men are likely to favor protection of the industrial capitalist order, which has historically served them well. The Huffington Post actually recently had a poll, which found that virtually every group in the United States is concerned about the climate change crisis EXCEPT older republicans.
See? It’s actually quite easy to use facts to discuss a topic at hand. As it stands, most of what you posted is unverified garbage! Thanks for playing!
What in the hell is this? So white men supporting industrial capitalism is preserving their white man order?
It doesn’t matter what polls show on concerns, I’ve already gone over the study, there is not a 97% consensus that we need to tackle climate change or there will be severe consequences, there IS consensus that climate change is affected by man. There is a substantial difference in the consensus on the severity, and this is where republicans disagree, when we call it a hoax, we call it a hoax of the severity vs the democrats literally trying to power grab the entire economy to control it. That is a far higher risk, the power grab. But you have not at all considered this risk, because well, democrats are holy to you and republicans are evil.
“What in the hell is this? So white men supporting industrial capitalism is preserving their white man order? ”
And what is crazy here is that I actually realized you are so indoctrinated I actually have to add that this was my way of saying: Absolutely false. This is so beyond racial to you, and you are actually racist assuming it, that I cannot believe it. This is far beyond any white supremacist I have ever seen. You want to destroy capitalism because you believe it benefits white men more. This is more catastrophic of an ideal than ANY person here, and the fact that the rosenblatts don’t see it as a threat, is mind boggling. Perhaps when we all revert to a form of racial communism you’ll see how similar it is to Nazism, this Jon guy. Maybe then you’ll take that movement on the left seriously. Jon is not the only one. There is no one calling for a new white order. This is ludicrous you let this man get away with this nonsense.
LOL I don’t have the time to school you on things I’ve literally already schooled you on, hypocritical fascist pretending to be a moderate!
“…and the fact that the rosenblatts don’t see it as a threat”
You just threw me into a conversation I wasn’t participating in solely to attack me? That is beyond childish and immature, and it is FAR from debating honestly or with integrity.
Name dropping someone out of the blue and attacking their character by saying they’re blind to (what you perceive is) racism is despicable.
You should be ashamed of yourself with what you just did there.
LOL it’s not racist, I didn’t make something up, that’s an actual study I cited. I even noted the study’s authors, look it up. Sorry you don’t like things like facts clouding your misinformation, but I actually provided the reference for my statements. You should try it sometime.
LOL you LITERALLY have nazis on your side Bob. Try to keep up when you’re not dishing out needless attacks and “nuh-uh!” responses.
Hey there Bob!
Do you understand racism? I don’t know if it is racist to point out polls that indicate a group of people that support something. Racism is “prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one’s own race is superior.” By highlighting that white men support maintaining protections of capitalism in lieu of supporting climate change is a point of fact rather than anything that falls under racism.
I really think it is funny how often people try to play the race when racism is not involved. Did he make a derogatory remark about being white? No? Was he hostile? No? Did he point out what a group of people support? Yes? Okay cool he made a statement rather than a racist remark.
Also thanks for name dropping people that have nothing to do with conversations, I think you should hold yourself to a higher standard since you have been part of the issue getting comment sections shut down.
NEWS FLASH: There has ALWAYS been climate change. 20 years ago or so, the news media was predicting an ICE AGE! We need to grow up and look at the long view over decades of time—not have knee-jerk reactions in the short term. Unless China works on it, we can’t really make a dent, and even if all countries help, there’s not a lot we can do. Just realize we have always experienced climate change, probably from more or less solar activity!
This is defeatist and cowardly, and lacks any accountability. “He’s doing it, why shouldn’t I?” isn’t the way to run a country. Especially from a country so concerned with “making america great again” why don’t you try and actually make america great instead of whining about China? Additionally, “we can’t really make a dent” says who? The EPA controlled by the oil industry? The fact is it will be costly, and big business is more concerned with the bottom line than with the planet’s future. Common Sense Cathy says it’s pretty clear that the industries pumping waste into our environment don’t actually care about the planet, just their profits. Open your eyes.
There is nothing defeatist about stating facts. There will be no ‘defeat’ by the Earth’s climate until a nuclear bomb is detonated or a large meteor strikes Earth and pollutes the atmosphere to create a ‘prolonged or permanent winter’.
You’re an ALARMIST. Much worse than a REALIST (not defeatist). REALISTS have a chance to fix problems they identify. ALARMISTS panic and pursue the WRONG solutions.
There is actually, especially because your “facts” are fluid and change depending on the argument. You don’t use knowledge or fact in a consistent manner, you have an end result in mind and you bend the above to reach your conclusion. Go ahead and put things in CAPS, you’re still denying evidence and fact at the risk of the world’s future to benefit the 1%. You’re a shill for big business.
This is beyond ironic. Flip it. That’s you.
Remove your 1% argument bull. Try the 99% who will be affected by the economic power that 1% will receive when democrats use this to take over the economy.
LOL you’re really slipping man, you grasp of logic doesn’t appear to gel with reality these days.
Anyone care to explain why FEMA is lowering base flood elevations here in parts of SC by up to 4 feet if the sea levels are rising……asking for a friend.
“The data show total insured losses from natural catastrophes are up from less than $7 billion a year in the 1970s to between $29.3 billion and $143.4 billion a year from 2010 to 2018. In 2018, 62% of all natural catastrophe insurance claims came from secondary perils.”
Why no mention of the increased cost of reconstruction in these figures? Maybe materials and the cost of labor have gone up a little? Maybe new building codes caused an increase? Maybe a little fraud involved in the hail claims, ya know how those roof claims get paid sometimes?
This is “Insurance Journal” isn’t it….. or is it?
Catastrophe exposures have increased via new construction in ‘cat zones’ in the pathways of hurricanes. Thus, cat loss amounts increase. That is a frequency increase component of the overall claim cost increase. The severity increase component is a combination of several factors, including building code changes and special features of homes that have been used in new construction recently; e.g. solar panels on roofs and emergency generators on the premises.
Those who are involved in XS product pricing / underwriting understand why there is a leveraged increase in Cat XS losses. Those who visit this site to troll and know nothing about insurance, and hence do not discuss insurance, will never know why there is leveraging of XS cat claims.
Where’s your evidence of any of that? You’re just posing maybes as an excuse for actual hard statistical data. You would like us to keep our eyes shut and our fingers in our ears, we’re all well aware. The fact is you don’t actually have any evidence to support an increase of that size. The idea that over $100b increase is because of fraudulent claims and cost of labor is laughably pathetic. Aside from the other data that supports the fact that the catastrophe costs have gone up, like you know, the record numbers of hurricanes passing through each season now. Pathetic little boys.