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Climate crisis on track to destroy capitalism, warns top insurer
(www.theguardian.com)
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this post was submitted on 03 Apr 2025
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collapse of the old society
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Unfortunately, a lot of the cash on hand for insurers comes from selling financial instruments like annuities. Annuities are something that retirees buy with their life savings to provide a fixed income. If the insurance industry goes bankrupt, it's taking a lot of people with it.