[pc86]

Nobody is claiming that if she did something similar in a completely different market it would have been criminal.

Perhaps we should talk about what actually happened - this woman defrauding companies using fake identities - and not hypotheticals we're making up.

[SkyBelow]

But is the discussion purely a legal one? Or are we also discussing a moral/ethical view that looks at a given behavior by comparing it to other behaviors to notice times when there are inconsistencies in our laws?

[pc86]

It's important to discuss apples and apples though. Insurance is not a securities contract. So it can be completely reasonable that treating insurance contracts like options is illegal, immoral, or both. And achieving a moral end through immoral means rarely has no effect on the end. Even assuming her activity is moral (not conceding the point, but for the sake of argument), I have a hard time thinking it is still moral when she has to use fraudulent identities to get to that end, especially when that end is simply enriching herself.