world
3 hours ago

Rising Chaos in California: Wildfires, Insurance Woes, and Climate Reflections

Rising Chaos in California: Wildfires, Insurance Woes, and Climate Reflections
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7 Highlights
  • California wildfires cause billion-dollar damages, impacting fire insurance availability.
  • Pacific Palisades wealthy homes struggle to get fire insurance due to rising climate risks.
  • Insurers deny coverage for fire-zone concrete homes, questioning risk assessment models.
  • Global climate forums see insurance theories faltering in real-world applications.
  • Nations at Cop28 propose insurance for climate damages, tested by California's experience.
  • Rich nations' reliance on insurance criticized amid poor countries' climate challenges.
  • Calls grow for large polluters to fund global climate damages as insurance solutions falter.
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