Originally posted by Solomwi
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Slate is deeply confused about insurance
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“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
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Originally posted by Felch View PostWhile small areas might have shelter from the storm, it's still a natural disaster of epic proportions. Individual health insurance is not really comparable to hurricane insurance.
And note, insurance companies don't make much in profits from premiums. Most of their income is from investment income. Heck the payouts for hurricane andrews were more than every single premium dollars that had ever been paid into the system at that point. But that doesn't mean money wasn't made and it sounds great when you're asking the insurance commision for permission to raise rates.It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
RIP Tony Bogey & Baron O
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Originally posted by rah View Post
And note, insurance companies don't make much in profits from premiums. Most of their income is from investment income. Heck the payouts for hurricane andrews were more than every single premium dollars that had ever been paid into the system at that point. But that doesn't mean money wasn't made and it sounds great when you're asking the insurance commision for permission to raise rates."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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Originally posted by Imran Siddiqui View PostDepends. Its a different form of "insurance" though, isn't it? It is less spreading risk if they only have to by catastropic plans. And those plans aren't the same as the insurance everyone else is getting. So maybe its splitting hairs, but that's kinda where this whole discussion has been anyways.
Of course, this is based on the simplified premise that Group A will not make significant claims, and therefore only serves the purpose of broadening the risk pool. The only relevant question about Group A under that premise is how much money you can get from them to put into the pool so you can cover the claims of Group B, which is a political question. In essence, Noah seems to me to be complaining that a politician has compromised on a political question in order to advance a political goal. That's why I wanted to see if I was missing something.Solomwi is very wise. - Imran Siddiqui
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Originally posted by Drake Tungsten View Post1. A low risk-low premium only pool won't be able to survive a black swan event.
For the love of god, please don't help popularize Taleb's dumb "black swan" terminology."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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"Insurance, after all, works only to the extent that it can spread risk among a diverse population." -- Noah
This is horses**t as written. I believe he is referring to age and relative health diversity. Nonetheless, this is nonsense to insurance as a business.
As a statement of a right or privilege where the goal is to "break even," this statement might indicate a goal. In essence that says let's gut a reasonably functioning business model, including profits, and replace it with a tax-based, break-even system. The Dems are claiming the government would only provide one option different from that of the current insurers. So where do they get off dictating who is in which pool at which rate. This is getting genuinely disgusting and confusing based on a lot of nonsensical inputs, left and right.No matter where you go, there you are. - Buckaroo Banzai
"I played it [Civilization] for three months and then realised I hadn't done any work. In the end, I had to delete all the saved files and smash the CD." Iain Banks, author
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In essence that says let's gut a reasonably functioning business model
The Dems
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.
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Originally posted by Drake Tungsten View Post"Unknown-unknowns""I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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Originally posted by rah View PostThat's what reinsurance is for."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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Originally posted by Drake Tungsten View PostThe whole danger of "black swan" events stems from the fact that you can't adequately assess the risk that they pose, precisely because they are "unknown unknowns"."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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