Reminder that all insurance companies are in the business of collecting premiums, NOT paying out insurance claims.
this post was submitted on 29 May 2025
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Heh, they're there for the shareholders.
Just snuck that right in there
One aerial imaging technology company common among insurers says it has eyes on 99.6% of the country’s population.
It’s ok, everybody. The insurance companies are contracting with 3rd party companies and using AI to make decisions, so we’re all good.
A bunch of people in California have already lost coverage due to this and claiming fire risk. Fucking bullshit.
And don't think hiding your address on maps will help. We had a helicopter circle every neighborhood photographing houses earlier this year.
The insurance denial market is in full swing.
It's not just helicopters. Commercial satellite imaging is good enough to detect mold and askew shingles (usually more through running the image over multiple angles and finding reflectance differences)
I worked for a company that does large scale construction updates based on SAR and Maxtor reflectance data, it's pretty terrifying how accurate it is.
The rate on our house in the Houston Metroplex has more than doubled within the last year despite no historical damage or flooding since 1980.
The broader market in this region is not in good shape though since developers keep building homes in riskier areas and taking away natural grasslands and forests that can accept water.
We were shopping for insurance on some houses we were looking at and got quoted $16k/year on an average size/cost house out in Missouri City. This area is rapidly going the way of Florida/California with insurers pulling out or dramatically rasing rates. Our insurance broker specifically said companies have pulled out of Fort Bend County citing the risk.
While governments are in denial of climate change happening, insurance companies aren't. They're hedging their bets early.
They're hedging their bets early.
The hour is later than you think. The climate is already changing. The 1.5C threshold has been left behind.
Free market climate change works both on the cause and effect side.
Geez Travelers has really gone to shit
Damn, that's some kutnieuws.