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Originally Posted by Thunderball
Good old Fotze...
No, its not a human right, but the allegation was price gouging against certain demographics, and it was proven correct.
That whole situation proved exactly what a government's job should be pertaining to the private sectors... a watchdog. Governments should only interfere with business when there is a visible misconduct at play that market functions and consumer sovereignty can't solve on their own. In Canada, this will happen a lot, since a lot of major industries are protected, essentially oligarchs, and/or have very limited competition.
However, sometimes people cry wolf too much about price gouging, like with gasoline, where its actually the government inflating the cost.
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Actually interesting enough insurance companies would love to get their hands on more information that determines actual risk to paying out. The better they are at doing just that the more money they'd make as an insurance company and the more competative they are in the marketplace. However since many ways of classifying people are deemed socially unacceptable (Ie how would some react if insurance companies determined that 'Black drivers' had more risk than "Asian drivers" but less risk than "White Drivers,"?) Since discriminating against 16-24 year old males was seen as socially acceptable and oddly enough actually did represent the biggest risk group by far it was a nice place to park a lot of the other inefficiencies of not being able to properly assess risk in other groups. Another contributing factor is that insurance companies don't recieve a lot of business from 16-24 year old males as that demographic doesn't usually buy complementary inrusance products such as home and life insurance or even collision insurance as commonly they aren't driving new cars. This lead to higher and higher prices placed on that demographic.