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View Diary: According to my home insurance plan (43 comments)

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  •  You got it. (0+ / 0-)

    At one time insurance was a legitimate wager, where the opposing bettor took his losses like a gentleman and paid out.  Now, however, they've discovered that there's no profit in being gentlemanly, and insurance that pays out is going the way of those other quaint relics of a bygone era: honesty, faithfulness, and quality.  This of course makes the purchase of such products a waste of money, so recourse is had to mandate by law that people do so.

    The cause and the key is Good Governance.  Even in medieval times, the King's Law demanded that merchants sell full quality, weight, and measure of their goods, or face some nasssty penalties.  King's who established strict mercantile standards tended to have prosperous kingdoms, until eventually England (the origin of most American common law) rose to pre-eminence among other things because commerce was WELL-REGULATED.  Unfortunately, American history since the time of our separation has involved the unbroken rise of the merchant/banker class to unbridled superiority.   There is no power base in our country (such as a hereditary aristocracy) strong enough to restrain them, and as a result, regulation falters.  The Fox cannot guard the hen house; we all know that.

    Gentlemanly behavior, when you come down to it, is merely a dignified obedience to rules of personal conduct which are so ingrained in one's society that violation invites hideous penalties.  So long as corporations are allowed to make their own rules, avoid all penalties, and even force us to purchase their worthless products by law or by collusion with other corporations in the form of the banks that finance our purchases, we will be no better off than serfs.  Sorry.  As the Goddess Eris said to Malaclypse the Younger, "If you don't like it, then why don't you change it?"

    Aye, there's the rub.  Easier said than done.  Still, the first step is to recognize that really, truly, there IS a problem.  It  is not your experience and your insurance company alone, on this or any other specific issue.  It's a nationwide problem, made better or worse by local conditions and state laws, but deriving from the overwhelming power allowed to accrue to the national FIRE industry.  It can't be addressed until we acknowledge that it exists, that we Don't Like It, and that the solution involves that much-maligned concept, REGULATION.

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