Günther Thallinger, a board member at Allianz, one of the world's biggest insurers, says the climate crisis could make adaptation economically unviable.
This article does not explain it real well only alluding to invisible lubricant and Im not even sure I can explain it but honestly the whole debt market it reliant on insurance. Geting a loan for something requires that it be insured. So no insurance, no loan, no loan, no small business, and of course the real estate market goes tits up.
This article does not explain it real well only alluding to invisible lubricant and Im not even sure I can explain it but honestly the whole debt market it reliant on insurance. Geting a loan for something requires that it be insured. So no insurance, no loan, no loan, no small business, and of course the real estate market goes tits up.
Sounds like feudalism.