Insuring Sea Rise

Apr 2012
10,688
4,390
East coast USA
Insurance companies don't bet, it's calculated risk.
The flood insurance rates are going up. Banks are taking notice, loans not being made. Many cash deals taking place.
Who owns all the ruins I wonder. When we write it off, and it's the only state we can rope off.
It will drown all other sea side towns, all towns near major rivers. Gee, that's quite a few.
We will all feel the pain.
On the upside, Electricans are still needed to rewire the new town limits.

https://www.insurancejournal.com/topics/sea-level-rise/
 
Mar 2015
31,337
16,822
Mad Prophet
Dude I live in Florida and while no one knows what "insurance is pondering", no one is fleeing rising sea level. That's not happening. Not. Happening.
Oceanfront property is still being developed, Keys property is still being developed. Apparently people are putting their money where you seem certain they shouldn't. Wanna take bets as to whether Keys real estate will crash? Not gonna happen.
Well, at least you seem confident. Why is that? Because God promised not the flood the earth?
 
Jan 2016
57,388
54,207
Colorado
Uh huh. All sorts of things "might" happen.
Yeah. That's why we have insurance companies, Otto. To try to calculate the risk of various things happening, and to charge people accordingly to insure against those risks.

You know, if you're so certain that insurance companies are way overcharging people against the risks of what you think is mythical global warming, Otto, you are quite free to set up your own insurance company, and take away market share from the established insurance companies by simply charging much, much less for flood and hurricane insurance along our coastal regions. In short, you could put your money where your mouth is.
 
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Jan 2016
57,388
54,207
Colorado
If you read the article, that might is already happening and insurance is pondering now.
It really doesn't matter wether man caused it or God caused it but " it" is rising.
In fact the really frightening evidence is "it" is speeding up. The evolution of sea rise, to double, then double again.
I've already provided Otto with scientific links documenting that sea level rise is accelerating.

He said, "What, me worry?"

I think he's Alfred E. Neumann!
 
Jan 2016
57,388
54,207
Colorado
Sea level is rising as it has been for the last 7500 years- slowly. I've been living on the coast in FL for decades. Decades...
No one is buying the alarmist shit. Go stir some other pot Loki.
WRONG, Otto! BZZZZZ!! I've already provided you with this link once, I guess you just didn't bother yourself with even reading it. Sea level rise is accelerating. Do you even understand that word?? So, NO, it is NOT rising at the same rate that it has been for the last 7500 years. DUH!

https://www.google.com/url?q=https://www.sciencedaily.com/releases/2018/02/180212150739.htm&sa=U&ved=0ahUKEwi1rs3ng4LcAhWT0YMKHT7dBhoQFggFMAA&client=internal-uds-cse&cx=010600859026308499623:bx2n_9y-3ni&usg=AOvVaw3t2FmOcAKA1TRfHp4ykKH2

The guy behind this study is a Professor of Aerospace Engineering at the University of Colorado, Otto. I've met him, personally. Go argue with him, why don't you. I would find that very, very amusing. He trains students who go to work for NASA, for the Pentagon, for the Air Force, for the National Security Agency, for....well, gee. Does it even matter?
 
Apr 2018
13,052
3,435
oregon
The seas worldwide could rise overnight by 10 feet. Many would die. Mankind would adapt and survive.
 

HCProf

Council Hall
Sep 2014
29,442
18,978
USA
I have a good friend who has basically a mansion on Lake Erie. Beautiful home. Their backyard is eroding and they can't sell their house. You have to disclose this to a potential buyer. They have lost 3 feet of their backyard over a period of several years. Right now that house is priced way under market value because of this.
 
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Reactions: 1 person
Jan 2016
57,388
54,207
Colorado
I have a good friend who has basically a mansion on Lake Erie. Beautiful home. Their backyard is eroding and they can't sell their house. You have to disclose this to a potential buyer. They have lost 3 feet of their backyard over a period of several years. Right now that house is priced way under market value because of this.
Lake Ontario was up nearly three feet last summer! I guess it's not expected to be quite as bad this summer:

https://www.freep.com/story/news/2017/06/12/great-lakes-levels-rising-lake-ontario-up-nearly-3-feet-2016/390342001/
 

kmiller1610

Former Staff
Mar 2007
33,221
6,652
Insurance companies don't bet, it's calculated risk.
The flood insurance rates are going up. Banks are taking notice, loans not being made. Many cash deals taking place.
Who owns all the ruins I wonder. When we write it off, and it's the only state we can rope off.
It will drown all other sea side towns, all towns near major rivers. Gee, that's quite a few.
We will all feel the pain.
On the upside, Electricans are still needed to rewire the new town limits.

https://www.insurancejournal.com/topics/sea-level-rise/
So how did Hanson and the Times do with this ancient prediction?

The rise in global temperature is predicted to cause a thermal expansion of the oceans and to melt glaciers and polar ice, thus causing sea levels to rise by one to four feet by the middle of the next century
https://www.nytimes.com/1988/06/24/us/global-warming-has-begun-expert-tells-senate.html

Do Insurance companies have to believe in doomsday scenarios?