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It’s not just Airbnb - every insurance policy written today is loaded with exceptions you could fit a Mack truck through. The textbook business model of insuran
by otterley 5y ago
It’s not just Airbnb - every insurance policy written today is loaded with exceptions you could fit a Mack truck through. The textbook business model of insurance is to collect premiums and try as hard as possible not to pay claims.
- ChrisMarshallNY 5y agoI remember watching an old episode of The Beverly Hillbillies, where an insurance executive was talking to one of his employees, and said: "The job of an insurance company is to take in as much money as possible, then refuse to pay it back."
- arp242 5y agoTo be fair, fraud is a serious issue. If there were no checks at all then every innkeeper would be burning their tavern down right after getting an inn-sewer-ants polly-sea.
- ekianjo 5y agoTo be fair, policy opacity with tiny letters clauses is a serious issue. If there were a few hundred execeptions less insurances would still turn a massive profit.
- ChrisMarshallNY 5y agoHad to give a thumbs-up for the Sir Terry reference.
- WJW 5y agoPerhaps The Beverly Hillbillies is not the most reliable source for business model information.
- ChrisMarshallNY 5y agoIt was basically a lighthearted posting. I apologize for being unclear, but I thought that mentioning the show would have indicated this.