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Americans are screwing ‘the rich,’ corporations, and their own grandchildren for the world’s wrong assumption that there would be no such pandemic

Posted by John T. Reed on

Pandemics are excluded by insurance policies. They are uninsurable. Legislators around the US are proposing laws forcing insurance companies to pays lost business claims.
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Car insurance policies exclude being used a business delivery vehicles. Legislators want to force them to pay the resulting claims.
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Regulators are declaring a moratorium on cancellation or non-renewal of insurance policies. A MA legislator said “bold” action was needed. In that sentence, “bold” means unconstitutional, illegal, and immoral.
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One of the principles of insurance is that simultaneous mass claims must be excluded. That is why wars and riots are excluded from life insurance policies. Ordering the insurance companies to cover such claims violated the Constitution’s contracts clause and the takings clause not to mention the laws of economics and the doctrine of impossibility. These mass claims events are excluded as they have always been because the insurance companies do not have enough money to pay such claims. Everyone knew that when they bought the policies. The state insurance regulators knew it, indeed, they required such clauses in order to preserve the solvency of the insurance companies,
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These legislators are behaving like small children screaming make it better, or like socialists who miss no opportunity. If I were a landlord or insurance company hit with one of these unconstitutional power grabs and forced charity orders, I would sue and resign from the industry in question on the grounds that America is a nation, not of laws but of pampering and spoiling childlike voters above all else.
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All of these eviction and insurance actions stem from one principle: that “the rich” and any business of any size may be plundered at any time by vote buying politicians on any grounds.They are illegal and immoral. Politicians have no right to force “the rich” or businesses to absorb ruinous losses any more than they have the right to say everyone whose last name begins with N to Z to accept such losses. The implication is that America secretly has higher regard for Marxist principles than for the Constitution and free markets, the rule of law and property right, three of the seven principles of prosperity.
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The actual wording of the clauses is they exclude losses caused “by viruses or bacteria.”
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To their shame, the insurance leaders prescribe the same thinking in the other direction. They want the government, which has no money either, to pay these claims. In other words, the insurance companies want everyone’s grandchildren and great grandchildren to pay for this. My response is the common phrase you hear nowadays: It’s not their fault.
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The idea that this pandemic is a tort and that we must punish and hold liable the negligent being who cause this, not anyone else, is crazy. It is the fault of all the people who assumed there would be no such pandemic when they did not buy more mask and more ventilators and more doctors and more hydroxy chloroquine and so on. China deserves much of the blame and liability and will refuse to pay. Those outside of China who treated have China in a lenient manner since they began to open up after Mao are now paying the price for pretending a murderous dictatorship is better than that.
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The one thing I know is that my grandchildren had NOTHING to do with this. And I know the one crystal clear reason why the cost of all this is being put on them now: They cannot vote. This is the rallying cry of the Revolution—no taxation without representation—is being stood on its head by the current Most Selfish Generations.

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