Let me guess, they buy the reinsurance from the government, so if they ever do actually have to pay out a claim, they'll get even more money from the government. Am I right?
Man I am studying to get a liscence to sell insurance, and it goes so much deeper and is so much more fucked up than you can possibly imagine. However at the end of the day yes the tax payers are on the hook for it. The key thing to understand as far as I can tell is the difference between a peril and a loss.
Everything about our current system is fucked. Can we just hit the reset button already?
Man I wish, but I don't think its going to happen, I think we have to fight it in the context of the system. Come up with ways to make a moral way of life relevant again. Just my 2 cents .
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