The author questions if the world is becoming uninsurable, citing lack of hurricane insurance as a homeowner. As global risks increase, headlines highlight an “uninsurable future” due to climate disasters. Insurers are reacting by reducing coverage and increasing premiums due to soaring losses that surpass background inflation. Political solutions like forcing insurers to cover catastrophic losses or becoming insurers of last resort do not address the actual problem. The historical context of past crises driven by climate change is provided, emphasizing that risks and losses cannot be eliminated, only transferred. The post discusses the unsustainable pursuit of “no limits” and the inevitability of collapse if risks are not acknowledged and addressed.
https://charleshughsmith.substack.com/p/is-the-world-becoming-uninsurable