Thread for obviously newsworthy stuff

[JohnT]

What is a reinsurer?

A reinsurer is an insurance company which acts as a secondary insurer to your primary insurer, therefore reducing the risk to your primary insurer.

A (totally made up) example is this: You insure your $20 million factory with Liberty Mutual. LM contacts a reinsurer who agrees, for a portion of the premium, to take on the last $5 million of risk... meaning that if your factory is a total loss, LM eats $15m and the reinsurer eats $5m. If your factory has $10m in losses, LM eats the whole $10m.

[Proteus_MST]

Interesting. Is there any reason why reinsurers in particular would be motivated not to invest in coal-related business?

It seems to be rather a symbolic gesture (Munic Re and Swiss Re may be the worlds largest ones, but there are still enough reinsurers out there who would have no problems with reinsuring or investing in coal related companies).

For the one, both companies are in support of the Paris agreement with its 2° C target.
For the other one, the more and more violent weather events during the past decade have resulted in more claims than the decadesbefore that ...
and with the step the 2 reinsurance companies express their opinion that the use of coal, as one of the most environmentally damaging energy sources, should be scaled back, instead of being supported (as it is done by he current government of the USA)

[rah]

What is a reinsurer?

Just another insurance company (or a specialist) used to spread the risk, for a cut of the action. If I underwrite a policy for a million, and charge you 1000 bucks a month, I might pay a reinsuer 500 a month to cover 500,000 of it.


Opps I guess i was too slow.

And it's just an environmental statement.

[Lorizael]

Interesting. Is there any reason why reinsurers in particular would be motivated not to invest in coal-related business?

[Proteus_MST]

What is a reinsurer?

Those are companies that buy (parts of) insurance contracts from insurance companies.
I.e. say an insurance company has some risky insurance contracts and they are unsure that they could cover the costs if the insurance is claimed,
then they can sell (part of) the insurance contract to a reinsurance company.
The insuree stays insured at the insurance company, but the monthly insurance fees he pays are distributed by the insurance company and the reinsurer ...
and if there is a claim, it is paid in parts by the insurance company and in other parts by the reinsurer.

This way the insurance companies keep their financial risks manageable

[Giancarlo]

https://www.yahoo.com/news/fake-diploma-florida-candidate-apologizes-stays-race-223036815.html

Another fine Trump university graduate...

[Lorizael]

Munich Re, the worlds largest reinsurer will stop investing in companies, that earn more than 30% of their money with coal related business. They will also stop insuring any new coal power plants or coal mines.
Swiss Re, the worlds 2nd largest reinsurer announced, already a month before, that they will take similar steps.

https://www.insurancejournal.com/new.../06/497132.htm

What is a reinsurer?

[Proteus_MST]

Ladies and gentlemen, the President of the United States:

When you give a crazed, crying lowlife a break, and give her a job at the White House, I guess it just didn’t work out. Good work by General Kelly for quickly firing that dog!

https://twitter.com/realDonaldTrump/...29583672307712

[Proteus_MST]

Munich Re, the worlds largest reinsurer will stop investing in companies, that earn more than 30% of their money with coal related business. They will also stop insuring any new coal power plants or coal mines.
Swiss Re, the worlds 2nd largest reinsurer announced, already a month before, that they will take similar steps.

https://www.insurancejournal.com/news/international/2018/08/06/497132.htm

[Uncle Sparky]

So white they were translucent.
None of the Canadian Unite the Righters showed up... the police stayed on duty just in case...

[Broken_Erika]

What group was that? The National Socialist Ninja Movement?

[Uncle Sparky]

So yesterday the Toronto police spent 3 hours guarding a site booked by anti-immigration types in solidarity with the Unite the Right march in Washington. A counter demonstration surrounded the empty square.

[Giancarlo]

Encouraging involvement is what the left is doing now. They are taking actual political action and are pushing a unprecedented number of candidates. I still remember that state assembly race in Virginia which saw a democrat beat a long time republican. That Democrat calls himself socialist.

[Dinner]

Citation? That ethics professor should get a medal of valor. Trump is a neo-nazi that called the terrorists in Virginia "good people".

Technically he said there were good people on both sides. Honestly, I doubt he is a neo-Nazi though he is definitely trying to play the dog whostle game (very hard) and he still is with his condemning "all kinds of racism". And while I do agree any group can be racist the right does try to play up the anti-white racism angle almost to the absurd.

I do wish the left would be smarter than that and stop playing the identity card so hard. They could lead by action and not fall into obvious pitfalls.

[Uncle Sparky]