>> Sure. But I also know that an insurance company's job is to not pay out
>> under any circumstances whatsoever. Their entire business model is based
>> on preventing customers getting the money they're due. The fact that
>> insurance companies are all doing so well indicates that they must have
>> got very, very good at this.
> 
> That doesn't mean that they never pay out, though.  In cases of 
> catastropic events, they're required by law to pay out.

Sure, they're legally obliged to pay out. But if you've just lost your 
house and you are now penniless... what are you going to do? Sue them? 
Oh, wait, you have no money. :-P

> If they never paid out, then people wouldn't buy insurance.

Maybe I'm just bitter. I paid £900 for a moped. When it was stolen, they 
gave me £25. Later I paid $1,200 for a car. When it was crashed, they 
gave me £75. I mean, seriously, it was *so* worth paying £700 per year 
in insurance premiums for that.

-- 
http://blog.orphi.me.uk/
http://www.zazzle.com/MathematicalOrchid*

Post a reply to this message