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View Diary: As the tornado passed, Erick Erickson Tweeted: "I wonder when Obama will find out about Oklahoma." (232 comments)

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  •  A fracture is coming... (12+ / 0-)

    The Fossil Fuel idiots, like the OK Senators, will deny it to their dying breath.  But the WS sycophants who finance the insurance industry are in for a rapid and rude awakening.

    'Where free unions and collective bargaining are forbidden, freedom is lost' - Ronald Reagan, Communist

    by RichM on Mon May 20, 2013 at 08:14:31 PM PDT

    [ Parent ]

    •  climate change will be good for insurance industry (1+ / 0-)
      Recommended by:
      RichM

      Once people start getting scared, anyone who can afford it will buy insurance, and the industry will be careful to only sell it to people statistically less likely to actually need it.  Market the hell out of flood, storm, drought, etc. insurance, then deny people who are living in vulnerable "high claim zones" on the grounds that they're uninsurable; it'll be "pre-existing conditions" all over again.

      Those people and businesses who can't get private insurance will demand coverage, and the government will have to step in, meaning lots of additional expenses, debt (since they sure as hell won't raise taxes to cover it), and regulation about development in flood plains, etc. that'll be fodder for conservative attacks.

      If the claims pile up, there'll be bankruptcy or some kind of settlement where the victims get a lot less than their policy entitles them to because hey, we can't live up to our end of the bargain, but we're the big company, so it's 10% or nothing.

      They might even leverage the premiums into another giant pile of paper wealth.

    •  perhaps, but not likely. (2+ / 0-)
      Recommended by:
      RichM, Visceral

      If the insurance companies can't get their act together and balance risk with premiums, they will simply pack up their tent and go home.  This will leave the taxpayers to pick up the tab for damage to those-who-used-to-be-insured (but couldn't pay the scandalous premiums).  

      So, the insurance companies will still make a profit, the taxpayers will still see their bills go up ($96B in 2012!) and the republicans will continue to not care.

      Darn, when did I become so cynical?

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