Insurance Academy

2 Reasons COVID-19 Legislation is the Wrong Solution

By | September 23, 2020

  • September 23, 2020 at 3:30 pm
    Karen says:
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    Great article. I may be very cynical but believe so much of this was very politically motivated. Some of these lawmakers knew good and well what the issues were but still put this out there so they could be on the side of “taking care of their constituents”. (i can hear the commercials now – so and so fought to have a bill enacted to protect you when your insurance carriers won’t pay out.) The same thing happens where there is a hurricane or other widespread event that purports to take advantage of insureds. I work on the broker side and most clients will tell you that they don’t want to read their policies and don’t even want you to try and explain what an insurance policy is saying. Yes, many of them are merely relying on others to insure they are taken care of. But, it is impossible for anyone to be able to predict every given situation. An insured is uniquely positioned to know what their biggest potential for exposure is on any given day. Education is very important.

    • September 23, 2020 at 3:31 pm
      karen says:
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      ensure not insure

  • September 23, 2020 at 6:55 pm
    Hector Projector says:
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    I got excited at the beginning of your article because I thought it was going to focus more on the fact that the government shut down businesses, not the virus. Is the government the problem? No, they were only doing what it seemed the majority of the population wanted. Why did people want it? Irrational internet panic. Why was there so much panic? Because AI has been programmed to maximize the time people spend on the internet. Sensational news spreads much more quickly than responsible journalism. We feed the AI with the stories we decide to click on. We will exacerbate this problem if we legislate mandatory insurance coverage for government shutdowns. If an elected politician decides to shut down businesses or take some other drastic action because of an angry mob, they need to face the consequences, which is to raise taxes to pay for it and lose the next election. I don’t think the people in government who want insurance to pay for their decisions are evil people, they are just ignorant and taking the easy way out. There is no easy way out when a solution involves the collective will of the people, and the AI of the internet is gas on the fire.



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