There's an old sci fi story, I probably read it in the 70s, in which archaeologists figure out that a lost civilization on another planet died out because of a financial crisis. Wish I could remember the title or author, but all I remember is the archaeologist saying, "They went bankrupt!"

Now I'm wondering if it makes any sense to double up on insurance.
Like finding a second company and getting a policy from them also.

Economic collapse as lateral damage.

When my insurer gives me tips on how to reduce my gasoline consumption, I tell them to stop investing in O&G producers.

This article makes no mention of reinsurance, the insurance insurance companies buy from reinsurance companies. Basically they'll take out reinsurance policies from companies like Loyds of London to cover them in case there's a catastrophe, such as a hurricane destroying an entire city, so they can still pay out the claims.

Seems a little odd it isn't mentioned in this article.

I’ve noticed that Automotive insurers have bet heavily on LLMs to replace experienced estimators on repair work.

Lots of vehicles are being written off that can be repaired and lots of repairs are being authorised above the value of the vehicle.

Meanwhile estimators are being forced back into the repair industry, or have taken early retirement.

Retail punters purchasing wrecks at auction and repairing them privately and as a result second-hand parts supplies are drying up. This is also throwing their new LLM based algorithms way off on their estimates for repair costs.

I’m just waiting for the LLM bubble to burst. Anyone who invested any time or money into this scam being marketed as “AI” is going to end up like those Bitcoin and NFT investors…

Sounds like they’re having a bit of fraud as a treat.

I think the buck stops with reinsurance companies IIRC. Until then the house of cards builds higher

It's probably a good thing that everyone isn't freaking out at the same time, but then again it sure would be nice if we had enough people freaking out to actually do something about it.

It's too late to keep Earth as healthy as it once was, but we can at least slow the impact to preserve as much as possible.

I've heard it said that the insurance industry is the true barometer on the threat of climate change, but I never really could buy into the idea that they would be immune to the tendency to ignore risks in favor of profits. This article just backs that up.

Earns me 1,75 % on LYX02M

Could have stopped at numbers, and this is nothing new.