Damn they might be insuring large companies that are causing climate change, that might just seemingly possibly affect their business.
this post was submitted on 14 Nov 2024
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Insurance Companies: "Climate related disasters are acts of God."
Also Insurance Companies: "Welp, time for us to GTFO of places where 'acts of God' seem to be occuring with increasing frequency."
clearly God is just really angery at those places in particular
Florida and California? Makes sense tbh.
Gotta make use of that Force Majeure-clause
See, I don't understand acts of god as it pertains to insurance. Acts of god are unforeseen, unavoidable accidents. What is insurance for if not literally that exact situation?
What is insurance for if not literally that exact situation?
It is to explain you why they won't pay. Funny how it took High Court in the UK to force them to pay for Covid business interruption claims.
It's for-profit of course
They probably wish they could pin it on an entity and recover losses through subrogation rather than just taking the hit. By 'taking the hit' I mean all us taking the hit, but they'd probably like being able to shake money out of judgments and raise our rates at the same time
2025: The supreme court of the US has decreed that god created humans therefore any human-made disasters are by transitive property of mathematics, "acts of god".
Acts of God get companies out of a lot of financial burdens, so there is a financial incentive to continue labeling climate related natural disasters as Acts of God.
That said, insurance companies know the odds on events and are pricing in the risk of climate change even if they want to keep the worst instances as Acts of God.