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That's not true. Look at insurance clubs in third world countries (funeral insurance clubs in South Africa for example). It's completely unregulated, but peopl
by joshfraser 9y ago
That's not true. Look at insurance clubs in third world countries (funeral insurance clubs in South Africa for example). It's completely unregulated, but people band together to help amortize the cost/risk of rare financially devastating events.
- analog31 9y agoThat's fair, but I suspect that the insurance industry as we know it would be reduced to a microscopic fraction of itself without enabling regulations. Likewise for business in general without liability limitation and other corporate regulations.