A 17 m yacht "Melanie" was recently destroyed in a sudden and
violent storm, please go to http://www.lostyacht.org for pictures
and more information. (this is a donation site)

Hey, I lost 20K on a house once, please send me some cash.

Certainly a novel alternative to insurance. Perhaps we should all try it.

An interesting concept perhaps, an insurance co-op. Members get billed
not a set annual bill, but a small overhead plus their share of the
losses that occurred over the past pick a time period with the
verifiable list of those losses posted somewhere.
--
Dan Best - (559) 970-9858, Fresno, CA 93704
B-2/75 1977-1979
Tayana 37 #192, "Tricia Jean" http://triciajean192.home.comcast.net

On Tue, 26 Feb 2008 07:28:48 -0800, Dan Best
wrote:

An interesting concept perhaps, an insurance co-op. Members get billed
not a set annual bill, but a small overhead plus their share of the
losses that occurred over the past pick a time period with the
verifiable list of those losses posted somewhere.

That's sort of how Lloyds of London works as I understand it, except
that members share in the premium revenue as well. An insurance co-op
would have to be managed as a business of course, or it would quickly
fail. One major problem is that the co-op would likely pick up the
riskiest business out there unless members were thoroughly screened
and vetted. There are reasons why large companies will not ensure
ferro cement construction. A provision for loss reserves would also
need to be established so that members could not pick and choose the
losses they would cover. To be successful the co-op would end up
looking a lot like an insurance company with all that implies.

On Tue, 26 Feb 2008 11:01:21 -0500, Wayne.B
wrote:

To be successful the co-op would end up
looking a lot like an insurance company with all that implies.

I figure the insurance companies have every base covered.

Casady