LordRaiden
Banned
Something that started as a small phenomenon a few years back now is picking up speed and may be spreading to other areas of insurance coverage. Its called "Disaster Futures". AKA, an area of land is zone out and a risk factor placed on it. An investor comes in, buys up futures in that area, then sits back and hopes for sunny weather all year long. What happens then is, if a disaster hit the area, like a tornado, hurricane, flood, etc. and insurance payouts are incured, then the investor looses a percentage of the amount of money they invested into the futures. If nothing happens and the insurance company profits, then a premium is paid back to the investor after the period of risk (usually 1 year) has expired.
Personally, I love this idea. If the idea caught on a lot more, this would mean cheaper rates for policy holders while allowing the rich to risk their own money, and in some cases, forfeit it in order to cover the cost of a disaster and to help take people who've had their lives devistated, and very likely all of their physical possessions destroyed, be able to pick up the pieces and put their lives together, build new homes, buy new cloths, pay medical fees, and much more. I personally love this idea. It makes sure that the little guy gets helped out and that those with lots of money help out where and when needed.
If there is no disaster, then all the better for all sides. We get low premiums, the insurance company is able to do more and offer more to other people who need it, and the rich help with paying for the costs incured by a disaster. What do you think about it? Personally, I love the idea.
Personally, I love this idea. If the idea caught on a lot more, this would mean cheaper rates for policy holders while allowing the rich to risk their own money, and in some cases, forfeit it in order to cover the cost of a disaster and to help take people who've had their lives devistated, and very likely all of their physical possessions destroyed, be able to pick up the pieces and put their lives together, build new homes, buy new cloths, pay medical fees, and much more. I personally love this idea. It makes sure that the little guy gets helped out and that those with lots of money help out where and when needed.
If there is no disaster, then all the better for all sides. We get low premiums, the insurance company is able to do more and offer more to other people who need it, and the rich help with paying for the costs incured by a disaster. What do you think about it? Personally, I love the idea.
