• iocase@lemmy.zip
    link
    fedilink
    English
    arrow-up
    11
    ·
    edit-2
    3 hours ago

    Mandated insurance that isn’t a crown corporation beholden to ratepayers is a perfect example. If you have mandated insurance for something, and that private insurance has a shareholder requirement to see growth every quarter, and the same amount of things are being insured, only one thing can happen:

    Rates go up with denials

    Payouts go down

    Eventually you’re paying for insurance you know is worthless but it’s mandated by law.