this post was submitted on 08 Oct 2024
67 points (95.9% liked)
chapotraphouse
13535 readers
57 users here now
Banned? DM Wmill to appeal.
No anti-nautilism posts. See: Eco-fascism Primer
Gossip posts go in c/gossip. Don't post low-hanging fruit here after it gets removed from c/gossip
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Insurance as a private industry is so stupid. They extract profits to protect people from catastrophic losses, but then when something catastrophic happens, the government has to step in to save the industry. We've seen it with the risk pools that states have had to create to keep health insurers from pulling out of rural areas, with last resort programs for home insurance and flood insurance, the AIG bailout, and the built in bailouts of Obamacare.
Why do they get to collect the profits if they don't cover the risks?