There’s no free lunch in private insurance. Insurance companies can’t print money out of thin air like governments and banks do, and private insurance companies are legally obligated to honor their contracts.
One of the main reasons Canada has a housing problem is because of the Canada Mortgage and Housing Corporation(CMHC), which is a government-run Crown Corporation that INSURES mortgages. If CMHC goes away or goes bankrupt, the prices for the housing market in Canada DECLINES, and housing causes a lot of pollution, especially EMPTY condos.
Without insurance, banks can’t print money, which is why THE FEDERAL GOVERNMENT got involved in mortgage insurance(CMHC). Now, if the PRIVATE insurance MARKET was insuring mortgages, banks wouldn’t be lending MILLIONS of dollars for tiny condos.
If CMHC didn’t get involved a lot of these CONDOS in Canada, that have all of these financial problems, then there would have been RENTAL APARTMENTS, as then MUNICIPAL governments would have been forced to look at their BAD housing policy laws.
Prior to CMHC getting involved in the housing market, the condo market was struggling in Canada; why? Without the GUARANTEES provided by CMHC, most people in Canada would not want to live in a condo. Most MODERN Condo owners settled FOR a condo because they couldn’t afford the cost associated with inflated home prices, caused by the CMHC and central bank money printing.
Everything these ESG people touch is DEMONIC.
CMHC insurers MORTAGES and doesn’t charge a MARKET price for its insurance products, and if CMHC fails, Canadian taxpayers are on the hook. You also have several different provinces that have GOVERNMENT RUN auto-insurance, which is part of the P&C insurance market. Saskatchewan per capita has the most car accidents, but you’d never know that because there a portion of their P&C insurance market is government-run.
Why bring this up? Because the government is most responsible for everything P&C insurance-related, you can’t blame the insurance industry for higher prices when INFLATION is caused by the GOVERNMENT.
The Canadian dollars say, “Legal tender, ” but we’re on the FIAT monetary system. Justin Trudeau now has Canada at 1.4 trillion dollars in debt($1,453 billion); that’s money he did not borrow from the private sector; he borrowed that money from the BANK OF CANADA (Public bank), which is now making prices for everything more EXPENSIVE.
When the PRIVATE insurance industry has to PAYOUT claims, if every PUBLIC SERVANT, for example, gets a pay increase, well, the PRIVATE insurance market has to pay for those HIGHER WAGES. This is not rocket science, this is why INFLATION creates problems for the private insurance market.
Private Insurance can not PRINT MONEY; if claims are being filed, Private insurers can’t PRINT new money into existence, whereas whenever Justin Trudeau has another FAILED climate change idea, he can print money and make the problem WORSE.
So, in order for this “Investors for Paris Compliance” scam to be alive and well, it needs to be profitable. They’re clearly not getting their hands dirty all they’re doing writing statements to get free press.
If your entity is “Investors for Paris Compliance,” then obviously, you’re a FOR PROFIT entity.
Investors for Paris Compliance is another one of these ESG scams that spread misinformation. A lot of these Environmental, social, and governance (ESG) entities are not doing anything for “climate change” except trying to make life more expensive for the poor and middle class.
TORONTO — A shareholder advocacy group is calling out Canada’s property insurers for their support of the fossil fuel industry while also raising premiums because of climate-related disasters.
If you’re going to go after the P&C industry, the government is largest contributor.
Investors for Paris Compliance says in a report out Wednesday that the seven largest Canadian property and casualty insurance companies collectively invested about $19.5 billion in oil and gas assets last year, with almost three-quarters of that represented by Toronto-Dominion Bank, while some companies also did underwriting for the fossil fuel industry.
At the same time, the property and casualty (P&C) insurance industry has raised home and mortgage insurance rates by 73 per cent in the 10 years leading up to 2023, or 36 per cent when adjusted for inflation, based on data from Statistics Canada.
“The P&C industry is really entrenched in a contradiction,” said Kiera Taylor, senior analyst at Investors for Paris.“While their business faces an existential threat due to climate change via higher claims and growing uninsurability, they continue to foster those risks via underwriting and investing in fossil fuels.”