Insurance Companies Are Not Good Neighbors to Have in a Climate Crisis

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Climate Emergency,Extreme Weather,Florida

Sam Pizzigati, veteran labor journalist and Institute for Policy Studies associate fellow, edits Inequality.org. His recent books include: The Case for a Maximum Wage (2018) and The Rich Don't Always Win: The Forgotten Triumph over Plutocracy that Created the American Middle Class, 1900-1970 (2012).

Do you know that you’re in good hands with Allstate? Or how about State Farm? Do you know that, like a good neighbor, State Farm is there? Of course you do. Insurance companies have been blasting slogans like these at us for years now. In 2022 alone, Allstate spent $617 million on advertising. State Farm spent an even more whopping $1.05 billion.

”Giant insurance companies that actually took climate science seriously, Bosshard observes, would have been “suing fossil fuel companies, to make polluters pay for the growing costs of climate disasters and keep insurance affordable for climate-affected communities.”Insurers haven’t been doing any of that.

 

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