Puchica wrote:In buying business insurance, we had to assure the liability insurance carrier that we wouldn't engage in a variety of risky activities; our business ventures that had a slightly elevated risk (washing windows, for example) had either to be dropped or spun off. Similarly, we just took out a new homeowners policy; to get any coverage we had to tear out our wood stove, cut down oaks too close to house.
I don't know how they categorize risk, but I imagine they require assurances against risk. For Fukushima, I'm guessing they bought the plant owners assurances that all bases were covered, redundant systems, plant certified to stand up to any foreseeable quake, etc. I'm wondering how AFLAC is doing; I heard a report that a third of Japanese homes have AFLAC insurance. Whether thats casualty, medical or life, that has to be a large unforeseen hit.
In the recent Australian floods, people who thought they were insured were not.
Apparently "Flooding" is due to rain falling from above and compromising the structure from above.
Rising waters were not covered. Stupid.
But this is how insurance works. If they actually paid out what they should have, they would have to file for bankruptsy.
In my state Western Australia, we are suffering from a drought. Big country. Yet it still rains over east.
We are also being subjected to the highest immigration levels in the world. How does that work?
Growth is 70/x to give you the number of years the population will double. We have a growth rate of 2.1 per cent.
So in just under 35 years we are expected to double our population, water resources, electricity needs et al. What a complete fucking joke.
Big business will sell more hamburgers, thats the only up side to the whole clusterfuck.