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this post was submitted on 15 Dec 2024
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United States | News & Politics
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It's crowdfunded insurance. Because actual insurance fails.
Actual insurance could work if it was handled by a nonprofit. Or, you know, the government.
Whi is the failure of actual insurance not seen as criminal contractual fraud?
Because they write the contracts on the policies VERY carefully such that it’s NOT a breach of contract. There are armies of lawyers whose job it is to make that a thing. It’s 100% legal and above board.
Also, lobbying.
Also also, regulatory capture.
Also also also, profit über alles 🫡
Actual insurance is crowdfunded as well depending on how you look at it. The premiums provide the funds for claim payment, the profit is pulled from that by denying as many claims as possible.