Federal insurance

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by chanel, May 25, 2012.

  1. chanel
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    chanel Silver Member

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    Federal flood insurance will lapse without Senate action today; could hurt shore housing market - pressofAtlanticCity.com: Atlantic County News

    Disclaimer: We have flood insurance as required by law.

    But can't we look at this and guestimate how cost efficient government health insurance will be? Pretty good historical example if you ask me.

    Comments?
     
  2. Ravi
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    Ravi Diamond Member

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    Comments? Sure.

    Regular homeowners insurance doesn't cover flooding, so if you don't have national flood insurance and are flooded you are shit out of luck.

    Three red states, Floriduh, Texas, and Louisiana, account for the vast majority of claims.

    Flood insurance is only REQUIRED if you have a loan on your property.

    IMO, it should be disaster insurance, not flood insurance, and required for all that have a mortgage and made available to those that don't but want the insurance.
     
  3. starcraftzzz
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    starcraftzzz Senior Member

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    http://www.coffi.org/pubs/Summaries/NFIP Summary revised Sept 26 2005-1.pdf
    ^The federal flood insurance (home insurance) program runs administrative costs at around
    7%.

    That compares to around a 40% rate for private insurance
    http://insurance.mo.gov/reports/lossratio/index.htm

    So the goverments flood insurance is 30% more effcent then thepivat mrket
     
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  4. American Horse
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    American Horse AKA "Mustang"

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    As you suggest; likewise not only government insured college loans, but now the govt has taken all college loans to the exlusion of private banks. The result? O

    ut of control tuition costs to students, universities and colleges ever expanding out of control building programs, professors which almost never teach.

    Then there's potential risk to taxpayers for default (or forgiveness) on college loans is approaching that of the recent financial crisis caused by sub-prime mortgages, or the PBGC (pension benefit guarantee corporaton) guarantees for (guess what) underfunded pension benefits programs.

    What do all these have in common? They are too big to fail.
     
    Last edited: May 28, 2012
  5. Ravi
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    Ravi Diamond Member

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    Well, fuck you, libturd!
     

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