Jannetta's Blog

And the insurance saga continues

In the UK, you have to insure your car by law. Does this mean the government condones citizens to be ripped off?

Apparently, if you report an accident in which you were involved, but was caused by the other party, you still loose your no-claims bonus if the insurance company is unable to recover their money. For instance if you get hit by a car while parked somewhere and you don't know who it is, you either loose you no-claims bonus or at least one of your no-claims points if your no-claims bonus is insured.

Does this mean that the whole purpose of insurance is to make sure that insurance companies get money for nothing and that this state of affairs is enforced by law?

Anybody with some conspiracy theories on this one?

... and anybody with some thoughts on what purpose principles such as honesty and integrity are suppose to serve?

Insurance company rip-offHappy New Year! (2007 is here)

Comments

Charles McCathieNevilechaals Monday, December 25, 2006 8:22:13 PM

The Australian government leaves car insurance up to individual states. At least in Victoria, where I grew up and owned cars, there was one compulsory insurance scheme that went along with one scheme for dealing with the results of traffic accidents, in terms of people needing money for medical care, etc. It wasn't brilliant, but it wasn't bad and it beats the h%^&* out of everyone having to sue everyone (unless you were a lawyer living off that, as my father once appears to have been). New Zealand has a similar scheme for tour operators, actually.

But Health Care in Australia went from being allegedly universal to being some giant rort where the government expects you to pay for private health insurance unless you are very poor, and then compensates you for it. If you don't pay, instead they make added barriers for it to become more difficult. Meanwhile, having given the handful of people who are making big profits in health insurance companies a really solid taxpayer-supported icome, guess what happened to the money that was used to fund the state health system? Well, it is still there, and in the free market you are welcome to try and extract it out of the health insurance companies at the same rate as before. If you expect them not to pay shareholders, to be run by people making public service salaries not the ludicrous fat-cat excesses that are now all the rage in Australia, ...

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