CDR: Re: Re: why should it be trusted?

[petro]

>On Sun, 22 Oct 2000, petro wrote:
>
>>  >	Of course, in the libertarian ideal universe someone not
>>  >completely indigent who had a genetic condition that made them high risk
>>  >might still be unable to get any kind of catastropic medical insurance
>>  >and might be wiped out of virtually all assets by a serious illness,
>>  >even one  completely unrelated in any way to his genetic predisposition.
>>
>>  	Nonsense.
>
>It's not? Demonstrate where Libertarian or Anarchic ideals take care of
>this person even in principle? Explain how they're not turned away and
>left to die?

	I did, and you brought up the reason why yourself:

>
>And don't invoke the old 'somebody will take care of them' bullshit.
>Because it is clear today that many people don't get taken care of at all.
>
>Explain why moving to such a system will empower the mild of human
>kindness in these sad souls?

	It's not kindness, it's *for the money*.

	If I (as Evil Insurance Inc) can make money selling a policy, 
I am going to do it. If you have a genetic pre-dispositing to, say, 
Brain Cancer, and I can write a policy that says I cover you for 
everything *BUT* that, why shouldn't I?

	Yes, it might be inordinately expensive for you to get a 
policy that *does* cover brain cancer, but you will be covered for 
lung cancer (unless you choose to smoke), testicular cancer or 
Alzheimer's disease.

	I can make money, so I will.

>>  	If Insurance companies were completely (or even greatly)
>>  deregulated, they could offer *seriously* ala-carte policies.
>
>They could, but they're not stupid. In a un-regulated market the insurance
>companies will focus on profits alone and that unfortuantely (and much to
>the chagrin of the libertarian/anarchy crowd) means that there will
>actualy be LESS insurance available and it will exist at a higher cost.

	How so?

	Insurance companies make money 2 ways. First is through a 
slight profit on their premiums. The second is through *investing* 
that money.

	If they can invest wisely--and they should be able to after 
all, they're in it for the profits--and properly balance the payouts 
v.s. premiums equation--and they should, they've been doing it long 
enough--they should have no problems.
-- 
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