Most
of us have trouble obtaining homeowners insurance, and those of us who do, pay
exorbitant rates. Perhaps we could
organize our own insurance company. It’s the American way, which I not only
would like to preserve, but also enhance, to solve our own problems and not rely
on others. During a brief discussion at a recent Up Country Council meeting I
discovered that others had the same thought as I did, a locally-owned mutual insurance
company.
Of
course, our local risks would have to be mitigated through risk-sharing
reinsurance. Since this is what all the insurers do, it seems quite possible.
But I spoke to one insurance professional who felt it wasn’t likely due to lack
of capital and probable company size. I would like to get more expertise and
opinion.
Can
we talk to our friends and neighbors about this? Right now we are all suffering as isolated
households against powerful interests. Working together we have vastly more strength. Could we band together enough to have an
open, public discussion meeting with several insurance professionals and
perhaps insurance commissioners about this possibility?
Whose
hands is our future in?
Copyright
2018, Mark L. Bennett
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