The obvious right wing solution. Bankruptcy insurance as an off balance sheet company. Pseudo insurance companies that collect premiums and only actually cover normal risk. They claim to cover mass flooding but the real business plan is to take those insurance premiums siphon them all off to send to the parent company as management fees and then when there is a mass flooding event declare bankruptcy and the parent company keeps those management fees.
If you don't think that is exactly what they plan to do, then you have a very naive view of modern corporations. Insurance companies do not go bankrupt when they do not provide cover and as sea level rise is an over time risk, they simply cease to provide annual cover when the risk becomes to great. You can pay for a decade and find that whoops you decade disappears because they know from here on in, the risk of flooding simply becomes to high and hence they shuffle you off to an off balance sheet sub-unit designed from the get go to go bankrupt.
The obvious right wing solution. Bankruptcy insurance as an off balance sheet company. Pseudo insurance companies that collect premiums and only actually cover normal risk. They claim to cover mass flooding but the real business plan is to take those insurance premiums siphon them all off to send to the parent company as management fees and then when there is a mass flooding event declare bankruptcy and the parent company keeps those management fees.
If you don't think that is exactly what they plan to do, then you have a very naive view of modern corporations. Insurance companies do not go bankrupt when they do not provide cover and as sea level rise is an over time risk, they simply cease to provide annual cover when the risk becomes to great. You can pay for a decade and find that whoops you decade disappears because they know from here on in, the risk of flooding simply becomes to high and hence they shuffle you off to an off balance sheet sub-unit designed from the get go to go bankrupt.