The Pickering Post
Monday, 20th November 2017

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FLICK THE INSURANCE COMPANIES

... they are the problem, not the solution

Larry Pickering

Four-time Walkley Award winning political commentator and Churchill Fellow, has returned to the fray over concern that the integrity of news dissemination is continually being threatened by a partisan media.

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The profusion of insurance ads flooding the airwaves illustrates the amount of money to be made by doing nothing other than collecting premiums and arguing over payouts. Ads for pets, life insurance, funerals, car and household insurance, in fact you can insure just about everything in order to have that warm glow of peaceful serenity to stave off a possible ruinous payout for an unforeseen accident... providing you have previously navigated the fine print.

This is how the bastards do it: First establish the average payout. Then make the excess just below that amount. Establish a “no claim” bonus and then start collecting the money. It’s foolproof, and if government legislation ever insists that you be socially responsible, pack your bags, close the company and start afresh elsewhere.

For example, it cost $25,000 PA to insure my Jetranger helicopter. The excess on any claim is $23,000 so clearly any repair cost below that amount I need to pay for myself. The average bingle in this chopper costs around $23,000, but most accidents are much smaller and must be paid for by the client.

Okay, so when a more serious accident repair costs, say $26,000, I need to pay the first $25,000 and claim the other $1,000 from the insurer. But hang on, if I claim that $1,000 then  I lose my no claim bonus, so naturally I pay for the lot. Despite paying a $25,000 insurance premium yearly it has now cost me a total of $51,000 as a result of being insured. 

Naturally I no longer have a chopper.

Insurance companies rely on these averages over time for their massive profits. Therefore if you choose to rely on averages too, and refuse to insure anything, the profits/savings will be yours and not the insurance company’s.

President Trump is currently underwriting (insuring) America’s Obamacare insurance companies with billions of dollars in taxpayer funds. He is desperately trying to decrease their premiums while at the same time maintaining their excessive profits to prevent them shooting through.

So let’s pretend there were no insurance companies... maybe insurance was against our religion or something. Would our NDIS or Obamacare or Trumpcare cease to exist? Not necessarily!

It’s possible to leapfrog the insurance companies and simply deal with the IRS, or in our case the ATO. The fact is that someone must pay for the eventual cost. So why allow the middlemen (insurers) to cream the system of billions when saving money for the client is at a premium, and at the same time we can ensure the cover is viable?

The over-staffed IRS and ATO could operate a simple computer program that made the adjustments through monthly income tax and/or entitlements. High earners pay more, poor people pay less... that is what governments want to achieve anyway and that’s the way it will always end up.

Payments up front, refunds, rebates, concessions, no claim bonuses etc could be made from internal revenue or a sequestrated super fund that pays bills directly to the medics and hospitals or refunds to the client. 

All costs are returned or adjusted via the taxation office back to the citizens who can now ignore the insoluble Obamacare and NDIS mess.

Everyone gets paid, everyone can get medical attention, (as they would anyway) and the government has complete control of hospitals’, medics’ and ancillary costs.

No underwriting of insurance companies for billions and the billions in profits they would otherwise make are now returned to the taxpayers or the tax office.

Suddenly insurance companies are unneeded and disappear, Obamacare and the NDIS become economically feasible and the rapacious insurers can go flog fake watches on a corner somewhere.

If you believe in averages then you shouldn’t believe in insurance.      



Comments

Chris please, I get embarrassed when I get compliments like that :)
Throw it all out and start again unless it can be proven 100%

Erdogan is a threat to world peace. Merkel and the rest of those dumbarsed One Europe scum bags are playing with fire, trying to entertain his wishes.

sailor..yep its incredible..and CC..when they own the money presses..and have their own people in govt to be used as thieves to take back the equivalent of whatever they print at FACE value!!, plus interest!!..Houston we have a problem.....Govt in the Zio West is nothing more than a Mafia Standover Extortion racket

Sailor, check this vid at 5:20 from the movie trespass against us.
Its the school part that's most interesting. Its so fking easy to program kids.
https://www.youtube.com/watch?v=E19n0bLAbDw

I reckon allowing first home buyers with proven saving ability should be able to 'borrow' the deposit from their Super; provided that when they sell that money goes back into their super fund. That way, the scheme should have no influence on increased prices. Perhaps the initial deposit (when returned to the super fund) should have increased by with the Inflation index. If the house remains theirs until retirement, then the asset has remained with them and should not be taxed.

Gosh, My daily list of Media favourites is taking a hammering of late. Gone are Bolt, M Smith, and now Bleak view.

Hang on, I'll water the Dog

I had no idea that "hockey, morrison et al" established the AAT Sailor, but you are wrong, they didn't .... "The Administrative Appeals Tribunal (AAT) is an Australian tribunal which provides for quasi-judicial review of administrative decisions by the Government of Australia. It is not a court and not part of the Australian court hierarchy, however its decisions are subject to review by the Federal Court of Australia and the Federal Circuit Court of Australia. The AAT was established by the Administrative Appeals Tribunal Act 1975 and started operation in 1976 ..... It was Whitlam Labor. LOL

O/T- bought prawns from Coles today. No white spot on these babies. But lady from the local fish shop said that all local prawns will be affected eventually. Question: If the white spot disease came in from Asia but Asian prawns don't got spots Why? Do the Asians treat them with some foul anti biotic and then sell them to us? Needs to be explained.

The Marxist education departments can force cross-dressing onto children, but:

"Australian schools are currently not required to deliver cyber safety education."

http://www.abc.net.au/news/2017-03-18/social-media-problems-gripping-girls/8356008

Moslems are only happy when they are dead.

Wow, just stumbled across Stan Grant in a program "The Link". It was about Wagga Wagga. That geyser better be careful of getting cancer under that sun lamp! He was NEVER that colour all those years ago when he left Carla, what happened? He was positively dulux mission brown.

"ABC takes sudden interest in minute forensic study of former Prime Minister's actions
Not Gillard. Not the search warrant. Just Tony Abbott. Nothing surprising."
"Watch as former PM Tony Abbott snubs his successor Malcolm Turnbull not once, but twice, at Bill Leak's memorial service"
http://www.michaelsmithnews.com/2017/03/abc-takes-sudden-interest-in-minutes-forensic-study-of-former-prime-ministers-actions.html

"Turnbull "corrupt deals in construction industry threaten economy" - here's the perfect proof"
"We've had quite a few comments on Ralph Blewitt's arrest and the 31 fraud charges he'll answer in court next Wednesday -"Perhaps its softly softly to get the ball rolling", "Maybe that's just Ralph's share of it????" and the like.
If only that were so.
The charges against Ralph are much more than just getting the ball rolling, or taking it softly softly at the start - they're fundamental to the way the crimes in the AWU Scandal are dealt with. And these charges against Ralph have broader implications for union corruption in general."
http://www.michaelsmithnews.com/2017/03/turnbull-corrupt-deals-in-construction-industry-threaten-economy-heres-the-perfect-proof.html

"World financial leaders have dropped a reference to financing climate change from their draft communiqué, says an official taking part in a meeting of finance ministers and central bankers of the Group of 20 leading economies."

In the Australian this morning. Although behind a paywall, I google the first 10 or so words, didn't accept their offer for non-fake news, and then could read the whole article.

http://www.theaustralian.com.au/news/world/g20-drops-climate-change-reference-in-germany-meeting/news-story/a48b0322666a75982c48a09cab216471

WHY WON'T THE AUSTRALIAN AUTHORITIES ACT ?

Year after year the gypsy scammers fly into Australia and fleece the elderly with their scams ... roofers, tradies, handymen, concreters etc etc ... year after bloody year these Romanians / Travelers / Gypsies fly in from parts of the EU to make big bucks

Now they are using standover tactics ... and assault and robbery of the aged who cannot defend themselves ..

WHY DOES THIS KEEP HAPPENING ? ... OVER AND OVER !

Australia, as a Nation, is Currently nothing but a Ship without a Captain, Drifting around aimlessly gathering Costly Barnacles.

THE TURKISH STALIN

Has encouraged European moslems to take over the whole of Europe and introduce Sharia Law ... and we all know what will happen to the Christians then .. poof ... all gone

The Europeans are so bloody stupid !

I once belong to the ASU. They are one of the worse unions that does not represent their members. At least the teachers, police and health unions represent their members. All the Australian Services Union done was made deals with Management to the detriment of the workers.

AUCKLAND AIRPORT AUTHORITY SHOOT DEAD BEAUTIFUL DOG

http://www.stuff.co.nz/world/90580332/worldwide-uproar-after-aviation-security-dog-grizz-shot-at-auckland-airport

Typical NZ way of handling things ...