The Insurance Scam

The future may be uncertain, but we can be reasonably sure about a couple of things; I'm quite sure the sun will come up tomorrow morning. I'm also sure that insurance companies maximize their profits by turning down claims as much as possible; it's their business model to try to not pay their customers.

Let me be clear about this right away: the insurance scam goes both ways. What I mean is that it's not only the CEO's of these companies who try to maximize their profits, it's us, their customers, as well. We've all heard it or been there, and it's the subject of many stories told on paper and on screen: people love to scam the insurance company, in some cases going so far as to fake one's own death in order to scoop up some giant life-insurance. On a smaller scale we all know about the little fender-bender collisions where the customer applies and gets payed for a brand-new part, while in reality just leaving the old, only lightly damaged part on the car. And then we proudly tell our friends about our lucrative endeavor at parties and laugh about those stupid insurance companies.

We're all in this scam, which isn't even a real scam because we all just do what the capitalist ideology tells us to do; maximize our personal profits as quickly and as effortlessly as possible. So don't view this as a criticism on insurance companies alone, but as an indictment of the capitalist economy as a whole; I'm sure that's something my readers have come to expect by now ;-) It's just that the companies have a position of much more power, as dictated by capitalism's core dividing mechanism that produces two distinct classes, and that they scam on such large scales that they actually hurt society as a whole. In the health insurance business it's common practice to initially simply deny ALL claims; many people, they know, will give up on pursuing the claim at that point. But it goes so much further. Did you know, for example, that health insurers hire thousands of nurses to coordinate care? "To coordinate care" simply means that they are the first line of defense against claims.

And it's not just health insurance but all kinds of insurances; I've included two videos by one of my favorite YouTubers, Louis Rossmann, that are best viewed in order. In the first he describes how his "business interruption" claim after a hurricane was denied. He owns an electronic repair shop, and his entire zip-code lost electricity; his business was clearly interrupted. The claim was denied because the insurance didn't cover damage caused by floods. There was no flood at Louis's place, so how would that make any difference? Well, the electric plant that provided the electricity was damaged because of a flood... In the second video he shows how a pandemic insurance doesn't cover business interruption claims in relation to COVID-19. A pandemic insurance that doesn't cover this particular pandemic... It's a crazy world we live in, but the method to all this madness is capitalism.

Thanks so much for visiting my blog and reading my posts dear reader, I appreciate that a lot :-) If you like my content, please consider leaving a comment, upvote or resteem. I'll be back here tomorrow and sincerely hope you'll join me. Until then, keep safe, keep healthy!