3 ms·
For low frequency, high impact events there's a thing called insurance. The problem is exemptions—like "Acts of God"—which I think should generally be illegal
by mLuby 7y ago
For low frequency, high impact events there's a thing called insurance.
The problem is exemptions—like "Acts of God"—which I think should generally be illegal. Higher premiums suck but they'll accurately account for risk (which now goes uncovered).
- asdfasgasdgasdg 7y agoThis is just shifting the problem to a different industry. The insurance industry would not have been sufficiently capitalized to weather this storm.
- iamaelephant 7y agoThat what the higher premiums are for, genius man.
- CamperBob2 7y agoWhat good is insurance that almost no one can afford?
- mLuby 7y agoClearly we (taxpayers) can afford it when we bail them out, so businesses must be able to as well.
- CamperBob2 7y agoWe bail them out at gunpoint, though, which doesn't meet any sane person's definition of "insurance."
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