Reported about 12 hours ago
Hedge funds are facing backlash in California over their investments in insurance claims related to recent wildfires, which are being labeled as unethical. The California Earthquake Authority has criticized these hedge funds for taking advantage of the tragic events, alleging that their activities constitute opportunistic speculation that could jeopardize billions in payouts meant for victims. Despite the controversy, transactions linked to wildfire claims continue, as alternative investment firms seek to manage risks associated with climate-induced disasters.
Source: YAHOO