Calling all people with background in the insurance industry...

[Coastal Cowboy]

Why would they? That means they would have to charge you less, and make less profit off you. I think it's safe to say that business, especially in america, is all about profits, at ANY cost. Do you think a big pharma company would not kill you in a NY minute if they stood to make a $billion off the drug that did it? They do that every day.

Business, especially in America, is all about maximizing shareholder value.

You don't maximize shareholder value by killing people. That billion dollar "profit" would be destroyed by lawsuits, bad PR and tanking stock price.

BTW... For the life of me, I don't understand how the word "profit" became an obscenity.

The business of America is business. Business--and the Crown's attempt to wrest control of American business--is the whole reason we fought the Revolutionary War.

 

[bikerbeagle]

BTW... For the life of me, I don't understand how the word "profit" became an obscenity.

I can't answer for everyone, but for me...it was when the value of life started being determined with a calculator.

 

[Thunderball]

As an insurance adjuster (I dont do life and health so Im certainly no authority), this topic/decision will not be decided by the insurance company, but by case law and will be decided on by Attorneys and a Judge. It will also go state to state as far a decision as do any other policy language question. You may want to google case law in your state and include dip, chewing tobacco and nic patches because I would guess that is where the plaintiff attorney will try to make his stand/comparison.

My two cents anyway.........

 

[Coastal Cowboy]

I can't answer for everyone, but for me...it was when the value of life started being determined with a calculator.

That would be the day that the very first insurance company opened its doors and began selling "life insurance."

In our economic system, an insurance company is a financial intermediary that buys risk from those averse to risk and sells it to those who seek it.

When someone like Pacific or Blue Cross realizes that they cannot purchase risk from consumers and sell it to hedgers or arbitrageurs and make a reasonable margin on the transactions, then they will seek every means possible of reducing their risk exposure when they are forced, by law, to purchase risk.

People think hedge funds are immoral, too...

 

[EddardinWinter]

Hedge funds are critical to the delivery of every type of energy we currently use at a stable price. I believe they also play a critical role in food supply (directly, of course energy costs affect food prices indirectly as well)

Sorry, I have swerved off topic. It was IBCR's fault!!

Tapped out

 

[Thunderball]

Hedge funds are critical to the delivery of every type of energy we currently use at a stable price. I believe they also play a critical role in food supply (directly, of course energy costs affect food prices indirectly as well)

Sorry, I have swerved off topic. It was IBCR's fault!!

Tapped out

You look like your ready to eat somebody......

 

[BigBen2k]

...
You don't maximize shareholder value by killing people. ...

You maximize shareholder value by letting people die?

 

[BigBen2k]

Hedge funds are critical to the delivery of every type of energy we currently use at a stable price. I believe they also play a critical role in food supply (directly, of course energy costs affect food prices indirectly as well)
...

That's correct!

There is a value in being able to know how much a consumed commodity will cost in the future. Airlines do it with jet fuel.

 

[vapero]

As I see it is as e-cigs are in a grey territory where they can still discriminate us and not look bad it is a perfect oportunity to raise your insurance to gain more profit regardless of it being safer or "not" it doesn't matter... they can do it right now and (from a bussiness point of view) it is a great opportunity to make more money

 

[Coastal Cowboy]

You maximize shareholder value by letting people die?

You maximize shareholder value by keeping costs down, bringing new products to market, expanding market share, keeping quality control standards at their optimal levels and negotiating contracts with suppliers and distributors that are in the best financial interests of the company. Those are just the biggies.

Invest in the companies that do the above.

Notice that I said nothing about making moral judgments. An ethical business is a successful one, and vice versa. Always and everywhere, for ever and ever, world without end, Amen.

 

[EddardinWinter]

You look like your ready to eat somebody......

Always. It's what I do.




Tapped out

 

[Coastal Cowboy]

Hedge funds are critical to the delivery of every type of energy we currently use at a stable price. I believe they also play a critical role in food supply (directly, of course energy costs affect food prices indirectly as well)

Sorry, I have swerved off topic. It was IBCR's fault!!

Tapped out

Hah! But it's really not off topic. Hedge funds (and individual arbitrageurs) make their money by buying risk. Simplifying, it's like walking up to a craps table at Caesar's Palace and placing a bet. The smart money always bets against the shooter, but sometimes the shooter knows the odds and gets on a roll, and the smart money bets on him/her rolling numbers.

Uncertainty: The lack of knowledge regarding the outcome of a sometimes random event.

Risk: The impact of the consequences of the sometimes random event.

If you can estimate the probability of the event, and you can estimate the financial (or other) consequences of the event, then you can calculate the risk.

I'm only yapping because I'm bumping DC2's thread, and really do want some insurance wonks with more knowledge than me to chime in.

 

[Coastal Cowboy]

Bumpity, bumpity, bump TTT.