07-31-2007, 06:13 AM
ccm911 wrote:
I have no problem with insurance companies, they provide a very valuable service.
That being said, you know as well as I that insurance is all based on actuarial tables and probability of failure. An insurance company (like Vegas) will never take a bad bet.
My point was that some insurance is of higher value than others. Life insurance good. Extended warranty on tires, bad. Insurance on complex systems good. Simple systems bad.
The consumer needs to be educated on risk as well as the insurance companies. Most are terrible at assessing risk potential and tend to overreact in their perception of risk. I have some really interesting articles on risk assessment if anyone is interested. I have a vested interest in risk assessment, so enjoy reading on the topic.
Quote:Actually, I know a few folks in the club that would benefit greatly from an underwear warranty.I know for a fact that hot exhaust gases can be deadly - all depending upon their exposure vector.
The combination of "Seepage" and "Hot Exhaust Gasses" pose a threat to underwear users world-wide.
And lay off the Insurance companies. They provide me with a nice paycheck every two weeks.
I have no problem with insurance companies, they provide a very valuable service.
That being said, you know as well as I that insurance is all based on actuarial tables and probability of failure. An insurance company (like Vegas) will never take a bad bet.
My point was that some insurance is of higher value than others. Life insurance good. Extended warranty on tires, bad. Insurance on complex systems good. Simple systems bad.
The consumer needs to be educated on risk as well as the insurance companies. Most are terrible at assessing risk potential and tend to overreact in their perception of risk. I have some really interesting articles on risk assessment if anyone is interested. I have a vested interest in risk assessment, so enjoy reading on the topic.
Well 'ard: British Slang. Very Tough. Very Good.
Life is too short to travel in the slow lane.
Life is too short to travel in the slow lane.