7/ snip "#Insurance is an easily overlooked but critically important factor to the stability of civilization. As Roger Hallam put it recently: “no insurance, no economy.” All property values in the US are underpinned by disaster insurance. If a property is in a #flood zone, #fire zone, earthquake zone, etc, you must carry the relevant #disaster insurance or you cannot get financing. If your property is deemed too high risk for insurance, no one is going to buy it because they will not be able to get financing. If insurers pull out of an area, the property values will tank, essentially becoming stranded assets. If businesses leave then residents don’t have jobs. It’s yet another example of a fragile system with a clearly defined breaking point that, once passed, will cause tremendous cascading impacts."