Also the billions they make in profit is not going to compensate anyone. And the billions they invest on share markets and lobbying to make the society more like they want is definitely not to the benefit of the society either.
Don’t forget the part where Insurance Company X calculates the maximum amount of damages they could be liable for from marauding flash mobs for a given affected area then raises the rates on all of their customers in an even bigger area to compensate so they can never lose money on Alice’s wrenches.
Source: I’m a mathematician who spent a summer working in the office of a roofing company and I literally watched homeowners insurance companies do it.
bouh@lemmy.world 7 months ago
Adalast@lemmy.world 7 months ago
Yeah, I wrote elsewhere that I wish medical insurers were required to be 501©28 (I think that was the number). It specifically states that they are not allowed to lobby or fund political organizations/candidates.
Paranomaly@sh.itjust.works 7 months ago
Not trying to speak up for any insurance company and will never say that the example is a good reflection of reality. Just showing a rough outline in how advertising and recruiting customers -could- be beneficial to the policy holder. It is as much a reflection of reality as a stick man is an anatomic model for study.