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I once took a cable car in Haridwar, which had a large poster outside assuring riders that they were fully insured and in the event of death, their relatives wo
by resolutebat 3y ago
I once took a cable car in Haridwar, which had a large poster outside assuring riders that they were fully insured and in the event of death, their relatives would be compensated by the grand sum of Rs. 10,000. Even at the time, it was less than US$500, and I'm sure that even getting that amount would involve an epic decades-long battle with bureaucracy.
- ssivark 3y agoHow much economic surplus do you think that cable car generates? How much of that could/should be spent on insurance premiums? What payoffs would those premiums entail? What is the right balance between spending on better safety tech (structural integrity, etc) vs premiums? There definitely needs to be a culture change wrt safety, but a massive increase in economic productivity is necessary to drive investment in safety.
- tuwtuwtuwtuw 3y agoI think you completely missed his point.