“The interplay within and between different physical and social systems … are often only poorly understood. This leads to large and growing uncertainty estimates and a wide range of incompletely understood and underestimated risks. For example, the potential for climate change impacts to drive social discontent, dislocation and relocation, and instability and conflict, are all deeply uncertain, but potentially crippling.”
Insurance, especially for rare stuff like 'Your home burned down" is a useful thing. It’s kinda exploititive if multi-million dollar beach rental homes get to cash out frequently while rates for everyone else skyrocket though.
It’s hard to draw a clear line, but I feel like at a certain point beachfront properties will need to kinda be phased out. Would be kinda nice for beaches to be less like amusement parks and more like national parks.
All insurance companies should be member cooperatives or nonprofits, if not just a direct government function.