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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (522377)	11/13/2012 2:15:52 PM
From: goldworldnet	2 Recommendations Respond to of 793670

Great post and I rec'd it, but we still need tort reform if that is ever possible. * * *

To: carranza2 who wrote (522377)

11/13/2012 2:35:25 PM

From: Maurice Winn

2 Recommendations Read Replies (2) | Respond to of 793670

Good post and it includes the reason I have bought car insurance in the USA - the price of being sued can be enormous. Especially when it became compulsory.

In NZ, we can maim somebody and they can't sue. Even if we are negligent. We can be prosecuted and punished with a wet bus ticket, even if murdering somebody deliberately, but any compensation comes from Accident Compensation Corporation which was set up in the early 1970s to avoid mass litigation with all the Gordian Knot that involves. ACC cut through all that and simplified it. It was a great idea with excellent intentions, which paved the road to where we are now - Hell.

Japanese tourists come here, fully insured, have an accident skiing which requires hideously expensive orthopaedic surgery on their ankle, which the local yokel taxpayers pay. The insurer pays nothing. Maybe that has changed in the last few years but I don't think so for accidents. Our son ran a snowboard tour business for Japanese and that happened.

I'm aware that when I hire medical people, I don't get the heavy discounts they give insurance companies. Even so, by staying really healthy, it's cheaper than being insured. I have a credit card which if used to buy airline tickets pays for medical treatment when overseas. So I'm not as pure as the driven snow in avoiding insurance. Put me in the cheapskate category.

Insurance also provides protection against vindictive attack. And insurers are good at bringing the law to bear on miscreants. So yes, there are substantial advantages too. For most people, it's probably a good idea. Especially for those who have hernia repairs, double knee replacement and that sort of carry on.

Mqurice

PS: Here is copy/paste price of gold. Impressed?

Nov 13, 2012 14:31 NY Time

Bid/Ask

1726.10 -

1727.10