Monstrous hurricanes Helene and Milton caused so much complex havoc that damages are still being added up, but experts in economics, insurance and risk say they are likely to be in the pantheon of super-costly $50 billion disasters.
  • bean@lemmy.world
    0·
    19 days ago

    Yeah if anyone is surprised by this you’ve been living under a rock for a long time.

    • Z4XC@lemmy.world
      0·
      19 days ago

      They just up their premiums in high risk areas and fight paying out after events. Just another broken part of the system.

      • ⓝⓞ🅞🅝🅔@lemmy.ca
        0·
        19 days ago

        I presumed that this was more lucrative for them and why it’s the case…

        There’s never been a greater need for social entrepreneurial ventures, but they just aren’t compatible with capitalistic societies.

        Imagine insurance companies there for the benefit of people when tragedy strikes but limiting costs to simply running operations and very limited profit.

        Not a single executive with experience would ever want to work at such a place because they would be paid a fraction of what they could at any other company… But goodness it would be incredible for social businesses to become the prevalent model.

        The closest I can think of at the moment in the United States is Mark Cuban’s Cost Plus Pharmacy. Probably much can be said about his wealth and how he achieved it, but… the pharmacy has been a huge boon for people.