Hacker News new | ask | show | jobs
by socialismisok 1353 days ago
My insurance company should be, imo, unable to get rich off me. Insurance should be nationalized, imo.

But it's the only game in town. I'm a socialist, but until there's a world where we're all taking care of each other and running worker co-ops, I'm going to have to operate in the existing structures.
2 comments
tpxl 1353 days ago
> My insurance company should be, imo, unable to get rich off me.

Where I live, there's a cap on the profits from insurance. I've gotten letters a few times saying due to high profits, the premium for the last month of the year was going to be lower.

That doesn't prevent them from running other scams like 10 year 'insurance savings' with 1% total yield, but those are optional.

link
gorgoiler 1353 days ago
How do mutualised institutions — building societies, credit unions, profit sharing with employees — fit into your world view? Are there credit unions that offer insurance products, or is it too risky lumping peoples savings with a risk-forward product like insurance?
link
socialismisok 1353 days ago
Generally I'd prefer them over capitalized institutions. At least the people who are making things work are seeing direct positive results.

In some cases (eg health insurance) I believe a single large national pool is preferable.

Should credit unions offer insurance... I am not sure. I think it's reasonable if that's what the credit union members want, but they'd need to be very careful about the policies they were issuing and the potential payouts.

link