Discussing the insurance crisis, the podcast reveals how insurers are hiking premiums, canceling policies, and exiting markets. They explore the impact of climate change on health, car, and home coverage. The hosts criticize profit-driven insurance companies and delve into societal inaction towards climate change. They also touch on nature's commodification and the intense animosity towards the insurance industry.
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Guardian Feature
Jathan Sadowski and Edward Ongweso Jr. were featured in The Guardian.
The article discussed Neo-Luddism and featured other comrades.
insights INSIGHT
Insurance Crisis
Insurance companies are in a death spiral, impacting everyone.
Major media outlets reporting on insurance is a sign of serious problems.
question_answer ANECDOTE
Australian Health Insurance Hikes
Australian health insurers increased premiums by 30% on average, exceeding the legal 8.6% cap.
Some increased by up to 47%, disregarding regulations.
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We go in for another edition of Crisis Watch: Insurance Death Drive and talk about how insurers are flailing and floundering, grabbing onto anything they can while trying to keep their head above water as they drown, and pulling all of us down with them. Insures across health, car, and home coverage are holding the public hostage as they hike premiums by shocking (and illegal) percentages, as they cancel policies at a rapid clip, and as they simply exit entire markets. We get deeper into not only what is happening, but why this crisis is suddenly popping off now. Spoiler: the public is bearing the brunt of stupid, short-sighted decisions made by insurance companies and their risk models.
••• ‘Humanity’s remaining timeline? It looks more like five years than 50’: meet the neo-luddites warning of an AI apocalypse https://www.theguardian.com/technology/2024/feb/17/humanitys-remaining-timeline-it-looks-more-like-five-years-than-50-meet-the-neo-luddites-warning-of-an-ai-apocalypse
••• Health insurers accused of charging more for top-level hospital cover than price cap set by federal government https://www.abc.net.au/news/2024-02-15/health-insurance-hospital-cover-premiums-surge-despite-price-cap/103464202
••• Auto-insurance costs rear their ugly head yet again https://www.ft.com/content/cf42ae85-492d-465c-94f7-343bffa95b40
••• The uninsurable world: what climate change is costing homeowners https://www.ft.com/content/ed3a1bb9-e329-4e18-89de-9db90eaadc0b
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Hosted by Jathan Sadowski (www.twitter.com/jathansadowski) and Edward Ongweso Jr. (www.twitter.com/bigblackjacobin). Production / Music by Jereme Brown (www.twitter.com/braunestahl)
This Machine Kills