• Avid Amoeba
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    4 days ago

    Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report by a shareholder advocacy group.

    That’s the thing. Once you realize the product is always profit, not insurance, or other widgets, then the seeming contradiction vanishes. They make profit on the insurance. They make profit on the cause of claims so long as it doesn’t affect the insurance claims too badly. And even then, they’re just gonna increase premiums or outright exit that part of the insurance market. And then the government will have to take over the affected Canadians.

      • Avid Amoeba
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        3 days ago

        This is where you might be wrong. It’s just profit. Often this so called short term profit is long term enough to justify folding the corp once it no longer works.

    • FireRetardant@lemmy.world
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      3 days ago

      They will start offering fossil fuel giants “protest insurance” with varying degrees of protection from preventative bot posts trying to shut down online movements to private police forces to protect properties from protests.

      • Avid Amoeba
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        3 days ago

        You’re in for a promotion to a Sr. FireRetardant an increase of base pay of 15% and a bonus 20%. If you keep trying this hard, next up we might give you some stock options too!

    • ProgrammingSocks@pawb.social
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      3 days ago

      Sorry to break this to you but I’m from western Canada and I’ve never seen a sugar maple tree. Seen millions of pine trees though.