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European insurers are underwriting 30% of US coal, study says (www.mining.com)

submitted 1 year ago by [email protected] to c/[email protected]

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The Insure Our Future report singled out Lloyd’s of London Ltd ... insures 10 mines producing 22.8% of US coal output. Zurich insures two mines producing 4.9% of US output, while Swiss Re insures one mine producing 3% of output, according to the report.

I heard that insurance companies are pulling out of regions impacted by wildfire and flood. Neat they're still doing the otherside of it though.

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[–] [email protected] 13 points 1 year ago* (last edited 1 year ago) (1 children)

Would I pay a slightly higher cost to prevent thousands from dying? Yes. In fact I question the humanity of anyone who can and would choose not to. Alternatives to coal have existed for decades now.

Arguably I’m already paying this cost since my utility uses virtually zero coal. I already do everything I can to detach myself from the stuff. But you’re right that it’s embedded in some things we buy. That needs to change. Pressuring these insurers could help.

[–] [email protected] 2 points 1 year ago (1 children)

I'm also for paying more. But lots aren't. Especially because they can't survive currently. On the current system it does not work. Worker reformer has to happen alongside it. I can only afford to buy eco products because of my current situation. When that changes I will be going back to cheap. Because I cannot afford that luxury.

My country uses very little coal. But steel and food and everything else uses coal and all sorts. It's impossible to separate them

[–] [email protected] 0 points 1 year ago* (last edited 1 year ago) (1 children)

Then don't make them pay. Have corporations foot the bill and ban them from passing the prices along to the consumer.

[–] [email protected] 0 points 1 year ago (1 children)

Do you have an example of such an iron clad piece of legislation?

[–] [email protected] -1 points 1 year ago

Make your Congresscritter come up with one.