aussiefree2ride wrote on Jan 13
th, 2011 at 8:53pm:
And your analysis is?
Australia needs a viable insurance sector, the same as we need (and enjoy) a strong banking sector.
At times like these, when the cost is being tallied into billions, we expect the insurance companies to step up, to honour their contracts, and to not go broke.
One way to do that would be to ensure they get as much business as possible.
To mandate that everyone have insurance on their homes, and for the government to NOT self insure - in other words to prop up the insurance companies with their business.
Costs might be about the same, with the knowledge that they are still going to have to self insure for large items that are just too big for an insurance company.
Just try to work out Ron Bosswell`s idea Ernie. Might take a while, apparently.