A Capitalistic Or Social Approach to Insurance?
The availability and affordability Garbage Pail Kids Maryland homeowners insurance in Johnny West United States is a societal crisis. Every interested party has a solution: a solution which protects their vested interest while purporting to solve the problem for everyone. The crisis will not be resolved until all vested parties address one fundamental issue which heretofore has been avoided. It has been avoided because it challenges the very foundations of our democratic and capitalistic society.
The following is a survey of the major participants and their positions in light of the fundamental question of how we decide to approach solutions to the automobile insurance crisis. We must gain a consensus on one basic question:
"Are we to pursue a social or capitalistic approach to the homeowners insurance crisis?"
All subsequent decisions affecting the availability and affordability of personal auto insurance relate to this question, and any attempt by concerned parties to circumvent answering this question dodges the real issue.
The homeowners insurance crisis exists because participants in this environment, and, as members of society as a whole, have to date, lacked the courage and leadership to confront this philosophical issue. Only from a consensus on either a socialist or capitalistic approach, can the mechanical parameters of a successful program be developed.
Consumer advocates, politicians, and regulators, adopting a socialist approach to solving the problem, will not achieve a solution by imposing their wills on insurers, lawyers, and the medical profession, who approach the problem from a capitalistic viewpoint.
The negative connotation associated with the term "socialism," especially in relation to a preconception about the "business" of personal auto insurance, has to be realistically confronted by all parties involved.
Political approach, socialism or capitalism, can affect a solution for personal auto insurance. A combined system will work also, however, only when all vested parties acknowledge one of the systems as the predominant and fundamental guiding approach.
If the approach is to be socialistic, and perhaps government run, then insurers and lawyers must abandon their profit motive and obligation to stockholders, and assist in the solution by contributing their expertise as benevolent members of society or as public servants.
If the approach is to be capitalistic, then consumer advocates, politicians, insureds, and regulators must abandon their hue and cry for redress against the perceived "ills" present in a truly "competitive" free enterprise system; i.e., a system with its inherent costs and benefits which apply to all of the interested parties, including themselves.
Maryland homeowners insurance discusses the implications for a number of the vested interests under both the socialistic and capitalistic personal auto systems. As with any decision involving a choice, each of these two systems has benefits and drawbacks for each concerned party, as well as for society as a whole.
* Insureds
* Insurance companies
* the Transformers and doctors
* Legislators, regulators, and consumer advocates
* Brokers and agents
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