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Insurance Giant Ditching Coal Industry Called 'Major Step Forward'—Especially If Others Follow

Originally published at http://www.commondreams.org/news/2019/07/01/insurance-giant-ditching-coal-industry-called-major-step-forward-especially-if


Well this should put the cat amongst the pigeons!!! Wonder who will follow.


“Oh shit,” Big Insurance suddenly realized, “coal affects our bottom line.”

Morality by spreadsheet…


Financial Times sez:
“According to Swiss Re, the insurance industry faced $76bn of losses from natural catastrophes in 2018 …”

Wait … when an insurance company pays out a claim, it’s considered a “loss”? Does it work that way for health insurance, too?


Time to put the final nails in the coal coffin, and in the process we need to support coal workers transition to other livelihoods - great if they were in the green economy.


The transitional program to retrain and re-employ
That is the key to winning support at the grassroots level
All these fossilizing industries, of which there are many, need to be managed into their bankruptcy reorganization to re-emerge with a new mission statement and an employed workforce
Think cleanup and infrastructure and re-green the environment


It is comic to think of the political hay being made by Putin of “liberalism” being dead. Poor old guy slipped on that peal of neo- laughter. Like Lucy flipping off Charlie Brown with the football, guess Putin is trying to shift the narrative to abyss from the cannibal cliffs.

Insurance of monopolies for profit is a mainstay of neo-liberal format and methodology. That format is entering a schizoid phase, ironically enough, of both assimilation / monopolistic mergers and wall-eyed cannibalism bloated beyond all bonding.

In the U.S. the federal government will insure the coal industry, just as it does nuclear power.


But wait. Didn’t Trumpo the Klown predict that the coal industry would be making a huge comeback with him in office? Something about how the miners would be really tired from digging all that coal? He even did his pathetic little imitation of a miner digging coal with a shovel. So, the exact opposite is true. Coal companies are closing down at twice the rate as they were during the Obama years. Trumpo the Traitor also tried to spread the bullshit about "clean coal: as well. You know what is really pathetic? I’d bet that most of the people he was pandering to and have have been betrayed by his shameless crap will probably vote for him again. Such is the power of right-wing propaganda in this country. It is the bankrupt ideology of the Rethugs over facts every time.


And what about fracking and the immense cost of the damage it does?

Presume it’s just we taxpayers picking up the bill?



And here’s an interesting email from Green Party on overall subject –

We will never stop environmental collapse within a capitalist system. In fact, trying to save the planet through capitalism is only accelerating the crisis.

Here’s why:

Competition for profits drives the blind, relentless growth that is consuming the environment, heating up the planet, and destroying ecological foundations of human civilization.

It also drives endless war, economic hardship, and the fourth horseman of the climate apocalypse, capitalist oligarchy.

There is no time left. Look around. Every day the headlines on climate collapse get worse. Working within our current economic and political system is a fool’s errand. Installing a new “operating system” is the only answer.

That system is ecosocialism. And this is the only Presidential campaign with the guts to call for ecosocialism to replace capitalism.


Well Hello

They finally woke up and smelled the Carbon Monoxide.

Mr Trump is not going to be Happy.

This is a serious Revolutionary step toward eliminating the Corporate Polluters and their Enablers.


Now comes a new age of lobbyists and lawmakers granting acceptions and loopholes.

Of course treating too many lung diseases and replacing too many roofs was going to hit the insurance industry hard enough at some point.


Yes. (I assume that the question is not snarky.) Many years ago a doctor who was employed by a health insurance company to review claims for approval or denial testified to Congress about pressure to reduce ‘medical losses’ by denying claims and requests for advance approval. People were appalled.

It’s even part of Obaminable Care - run ‘medical loss ratio’ through your favorite search engine for more.

They could call payments to health care providers something less offensive, like ‘contractual obligations’ or even ‘payments to health care providers’ and reap a bit of public relations points, but that would be a diversion, however small, from their true purpose -profit. I wonder what they call really sick people.


Really sick people are called “loss leaders.”


The only insurance that I am concerned about now is the insurance that We all get "Medicare-For-All-."



As a taxpayer that is pure horse pucky. This is how the government makes things even worse. The government subsidizes flood insurance in places prone to flooding, this is like your spouse leaves and getting drunk and hiring a hooker to ease the pain. Government should not be easing the pain from global warming. That way even the dim-witted trumpanzee will finally realize that hey this climate change is real and is hurting me.

Our current form of government won’t allow for such a revolution. The U.S. constitution and the supreme court really protect property rights, and as long as property rights are enshrined in law how can we obtain ecosocialism without violent revolution?

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Trump and repugs from coal country will come in and offer government underwritten insurance, the worst of all worlds.

Never –

Have to agree with you about where the POWER and CONTROL is –
and sadly we’ve been given no real leverage to remove criminals from office
where Our Founders pretty much actually created an Elite/Patriarchy - not a
democracy –

but if our Supreme Court actually believed in “property rights” this land would
be returned to the native people it was stolen from.