Insurance jackals cash in on warmening hype:
Scientists haven’t reached a consensus about whether global warming makes hurricanes more frequent and fierce, but that hasn’t stopped the insurance industry from raising its defenses – and its rates.
Many coastal property owners in North Carolina have seen their insurance rates increase 25 percent since May …
“I know everybody on the coast is suffering from high insurance rates,” said William Baggett, an owner of the oceanfront Blockade Runner hotel in Wrightsville Beach. He said his rates have quadrupled since 2005. “I don’t think they are quite justified.”
Warm-mongers are inclined to use increased insurance rates as evidence of their belief system’s broad acceptance. They should remember two things:
• Insurance companies need little excuse to jack up rates.
• Property values are a more accurate guide to the threat of possible flooding.