The Parasites of Western Economy, Part 1: Motorvehicle Insurance Scammers

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.62).

#parasite, #motor vehicle, #transportation, #insurance, #scam, #rip off

The Parasites of Western Economy, Part 1: Motorvehicle Insurance Scammers.

If you have ever been to Vietnam, you will see more than 40 million motorbikes on the roads. They go on their daily routines, occasionally causing minor accidents and damage but people don’t threaten their road sharers with law suits. Owning a motorbike there is thus mostly an advantage and very rarely a liability (it is so only when the owner is outrageously stupid). How can they do that and why cannot Westerners do it?
They can do it because they have not been brainwashed and enslaved by Vehicle Insurance Parasites.

1. The Vietnamese way of handling non-fatal traffic accidents.

1a. If you lose a small paint scratch then consider it part of wear and tear of a quickly depreciating asset. You have to be tolerant to the other party who may be inexperienced just like you years ago, when you were young, or may be just like your kids.
1b. If you lose a turn indicator lamp then consider who has more damage and remain tolerant:
If the other party suffers no damage and is clearly at fault then ask him to pay a realistic repair cost to you right on the spot.
On the other hand, if he suffers much more damage than you do then consider that you have been lucky not to get hurt and he has already been taught a good traffic lesson.
1c. If your motorbike is badly damage:
You may ask the other party to pay for the actual repair costs and usually he will agree to it or beg you to let him pay by installments or only part of it.
You should think that accident avoidance is the responsibility of both him and YOU. Be tolerant and consider who suffers more damage.

2. The Enslaved Litigious English way of handling non-fatal traffic accidents.

2a. If you lose a small paint scratch then force the other party to follow a costly legal course of arguments to assign faults and threaten the other party with a law suit to take away his house. On the other hand, if you are at fault, you still employ a lawyer to reply to the other party that you won’t pay even a single cent for his fair repairs cost.
2b. If you lose a turn indicator lamp then take your vehicle to a shop that will try to assign hundreds of small previous wear and tear to the accident and ask the other party to pay for all that. You will hope to have a partially brand new vehicle after those repairs.
The reality would turn out that the shop WILL POCKET most of the costs and you will ONLY have the main damage shoddily repaired: You have been used by the repairer to scam money on the poor other party! Do you want to sue the repairer (your former partner in crime!) now?
2c. If your motorbike is badly damaged:
You may ask the other party to pay for the (often pretended) psychological damage for fear of traffic, plus inflated repair costs.

3. Where does the money go in the Enslaved Litigious English World?

3a. You pay the lawyers to threaten one another unnecessarily. All of you are forced to join insurance schemes and pay their excessive costs to avoid being threatened.
3b. You pay the lawyers to play expensive legal games. You also pay excessive repair costs to non-existent repairs.
3c. You pay the lawyers to play legal games to rip off other insurance contributors on pretended psychological injuries. You also pay excessive repair costs to non-existent repairs.
(See references [1,2]).

4. Parasites ripping-off your transportation system.

You now know why transportation costs are so expensive in English speaking White countries. There are parasites feeding on your transportation costs, you are enslaved into paying annual insurance premiums that is about 5 times the cost of the actual repairs if paid out directly by owners instead.
There used to be Mutual typed Insurance Companies (AMP, Colonial Mutual, NRMA) which are not for profit organizations (such as NRMA motor vehicle Insurance for member). The financiers had successfully used immoral ways to rip off the Mutual funds to give money contributed by many previous generations of members to directors and fund members at that only time. The rip off was called “Demutualization” (around 1995 in Australia). Those mutual insurers were then wound up to leave the market to only for profit insurers. Without competition from those non-profit organizations, insurance premiums have shot up.
You should demand a law reform to reduce the legal rip-offs by transport insurance schemes.
I am no fan of the political system in Vietnam but I admire the way the population there cooperates in their daily commutation. At least, each Westerner should experience the rip-off free transportation system in Vietnam (before it become infected by the Insurance associated parasites) to know how much you have been ripped-off by the parasites..
It should be remembered that a fish won’t know that it is in water unless it can somehow, sometimes jump out of the water.

References:

[1]. wikipedia Compensation_culture, accessed 05May2017.

[2]. www.iaapa.org CompensationCulturePuttnam.pdf, accessed 05May2017.

[3]. the car insurance industry is a disgusting racket, https://www.spectator.co.uk/2015/10/the-car-insurance-industry-is-a-disgusting-racket/

[4]. https://www.theguardian.com/commentisfree/2011/jun/27/jack-straw-car-insurance-racket

[5]. http://trafficlaw.com.au/forum/viewtopic.php?t=3737

[6]. ALEKS DEVIC, Car crash racket runs rampant in Victoria, with thousands left without car, huge bills, Herald Sun, http://www.heraldsun.com.au/news/victoria/car-crash-racket-runs-rampant-in-victoria-with-thousands-left-without-car-huge-bills/news-story/f0f217204e4c959ac67fe7f1f18abf3c , May 22, 2016 9:00pm

Added after 2017 Dec 28:

[7]. http://asic.gov.au/about-asic/media-centre/find-a-media-release/2016-releases/16-049mr-insurers-take-car-buyers-for-a-ride/

[8]. https://www.moneysmart.gov.au/insurance/car-insurance/add-on-insurance

[9]. https://consumeraction.org.au/junk-insurance-and-rubbish-warranties/

INSURANCES WITH NO VALUE

[10]. http://straightlinelogic.com/2018/04/29/and-yet-another-wells-fargo-banking-scandal-by-simon-black/

ADD ON INSURANCE

Swann, owned by IAG, only paid out around 10 per cent of the $1.07 billion in add-on insurance premiums it collected over a 10-year period, the royal commission has heard.

[11]. http://mobile.abc.net.au/news/2018-09-18/banking-royal-commission-live-blog/10262384

[12]. http://uphindia.com/2019/04/22/it-is-not-mandatory-to-buy-car-insurance-from-auto-dealer/

[13]. https://www.reuters.com/article/us-wells-fargo-settlement-idUSKCN1T81RM