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Insurers continue scamming businessowners AROUND THE WORLD!

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Alex Eisenhut:
Louis's latest rant is great.



I can't believe people defend insurance companies that they "have bills too."

I am surprised Louis didn't mention the very real fact that insurance companies are themselves insured, and do not lose a penny. Ever.

https://en.wikipedia.org/wiki/Reinsurance

Nominal Animal:
I only wish he had emphasized that the insurance scamming can only continue for as long as the majority defenders – bootlickers, Louis calls 'em – let them.

To fix this, the rules need to change.  And that will not happen until the majority agrees the behaviour is a problem, and that the rules need to be changed.  We can't change the insurance companies without changing the rules they operate under.

Put another way, it is the insurance marketplace that currently allows this.  Even if you had a company that did not scam its clients, it would soon be out-competed by the scammers, because of the current insurance marketplace rules.

The true villains are not the companies that play by the (too loose) rules, but the wonky rules, and especially the bootlickers that defend the too loose rules: the majority that accepts the current status quo, the "middle of the road" moralists, who do not see anything wrong in the current situation.  (I very recently had a nasty rant about exactly that kind of people in another thread in this forum.)

Red Squirrel:
Insurance companies seem to hate small business.  Try to run any kind of business from your garage and see what they say.  Heck, some insurance won't even let you put a business decal on your personal car.  Cities equally hate small business too and will give you lot of trouble for it.

I see the odd ball small business ran from a home sometimes and they have a sign and everything and I do wonder how much trouble the city and insurance give them.

BrianHG:
Pandemic insurance is bullshit.  When a real pandemic comes along, the insurer would have to pay every single one of their clients all simultaneously.  Even the re-insurers cannot afford this and they know it.  Every insurance company should be out of business within months, especially since by definition a pandemic will disrupt things for a good 2 years at least for many businesses.  The insurance company cannot afford to pay everyone all their business expenses country or world wide for 2 years straight...

langwadt:

--- Quote from: BrianHG on December 18, 2020, 12:46:34 am ---Pandemic insurance is bullshit.  When a real pandemic comes along, the insurer would have to pay every single one of their clients all simultaneously.  Even the re-insurers cannot afford this and they know it.  Every insurance company should be out of business within months, especially since by definition a pandemic will disrupt things for a good 2 years at least for many businesses.  The insurance company cannot afford to pay everyone all their business expenses country or world wide for 2 years straight...

--- End quote ---

so it is fraud, they promise something can't and have no intention of delivering?

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