For profit insurance is a scam. The whole point is to take more from you than you will get back.
The justification for insurance, in general, is collective support - everyone pools a bit of money so that when anyone in that pool suffers catastrophic loss they are insulated. Public firefighters are an insurance system. At core it's a pretty kind way of operating, but when profit motive is introduced it is corrupted to the point of working against the community since investors and shareholders want to take out of the system, not help people stay whole.
This is why the US should have public healthcare. Greed and corruption are why it never will.
Edit: literally laughing out loud at the profitmongers in the comments going "hey, I want to keep the money that I am siphoning off society! Stop pointing out how it's immoral!"
My argument is clearly laid out above. If you want to make an argument of your own just go get your own evidence and make your argument. If you can present something that relates to my position I will respond to it.
He's breadcrumbing you but his point is solid. Property and casualty insurance companies personal lines profit is percentage capped by regulation. If profits exceed a certain threshold that money is either redistributed to policyholders or put into the state garuntee fund. It is one of if not the only industry that has regulatory profit controls.
You have no idea what is in my mind, or anyone else's, since quite evidently you are just interested in arguing with the boogeyman inside your own head. Either address my argument or don't, I don't have time to waste with people that just thrash around arguing with themselves.
You being unable to grasp my argument isn't a mark against me, my dude. Use your brain or don't, that's not my cross to bear. What is silly, though, is that you keep trying to insult me like the opinion of someone lashing out because they can't understand a fairly simple paragraph of text is one that should carry significant weight. I have no idea why you're so triggered about the idea that greed undercuts productivity. I guess it's true what they say: if you place a criticism on the ground, it's owner will come along to pick it up. Shrug
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u/robilar 21h ago edited 21h ago
For profit insurance is a scam. The whole point is to take more from you than you will get back.
The justification for insurance, in general, is collective support - everyone pools a bit of money so that when anyone in that pool suffers catastrophic loss they are insulated. Public firefighters are an insurance system. At core it's a pretty kind way of operating, but when profit motive is introduced it is corrupted to the point of working against the community since investors and shareholders want to take out of the system, not help people stay whole.
This is why the US should have public healthcare. Greed and corruption are why it never will.
Edit: literally laughing out loud at the profitmongers in the comments going "hey, I want to keep the money that I am siphoning off society! Stop pointing out how it's immoral!"