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By your argument, no analysis should ever be applied to any decision involving humans because that has disparate impact. Car insurance companies should only ch
by gragas 10y ago
By your argument, no analysis should ever be applied to any decision involving humans because that has disparate impact.
Car insurance companies should only charge one rate, because otherwise they're discriminating against teenagers and men. Health insurance companies should only charge one rate, otherwise they are discriminating against smokers. Life insurance companies should charge one rate, otherwise they discriminate against men. Annuities should all have the same payouts, otherwise they discriminate against women for the mere fact that they live longer on average.
Really, I understand your sentiment, but government mandate is not the solution.
- rtpg 10y agoHave you thought that maybe this is an argument against private insurance? Why should life insurance be necessary, instead of proper safety nets provided to all by he government. Why shouldn't car insurance be somehow "built in" to the cost of the car? Considering everyone needs it and everyone needs cars in America. Annuities are also just generally bad in practice for the consumer. Also, health insurance companies can discriminate against smokers, they're not a protected class for a reason. I think insurance is a bit tricky because it's a mess of adverse selection and other effects that make it very different from "classic" free-market stuff.