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Reblogged by slightlyoff@toot.cafe ("Alex Russell"):
ZaneSelvans@social.coop ("Zane Selvans") wrote:
Climate change doesn't fit the model of "insurance." It's not a low probability, high impact event that randomly affects a small subset of assets, with a low total cost relative to the whole pool of assets at risk.
It's a high probability, high impact event that affects everybody, with a high total cost relative to the value of the pool of assets at risk.