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?

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.”

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”.

Gotta make use of that Force Majeure-clause

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.

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

DNC did a bad job in singling out grocery for greedflation. By far the biggest greedflation influence was insurance. They did use global warming as a “marketing ploy” for cost increases though. Basically, insurance is 2 separate businesses. 1. getting more premiums than payouts + administration costs. 2. A bond investment fund.

High interest rates above inflation for so long, meant big payoffs for high premium hikes. It’s ok if it means customers refuse, because they get to keep previous premiums when they do. Get to cut sales expenses in trying to get new business, and just harvest that sweet cash in order to invest in their bond fund.

The major CPI component that was sticky, and let Republican Fed Chairman keep rates high to slow economy down, was these insurance premiums.