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About Time Too

Gee, they're quick on the uptake these fellows who'll be investigating the collapse of insurance giant HIH.

Yup, months have gone by, people are paying squillions more for every type of insurance imaginable, and the investigators have finally realised "oh, these prices look a bit suss."

Well, excuse me if I'm a bit cynical, but shouldn't the royal commissioners have acted immediately and not watched as insurance companies ripped us off for even more money.

Fair dinkum, my insurance bill has gone up by about 40% - and that's after not having made a claim for about a millennium.

Now I may be wrong here (but I doubt it) didn't we, as taxpayers fork out big money to save greedy builders their profits when HIH sucked the big pineapple? So why, do we now have to pay more because bloody insurance companies can't get their risk-assessments right.

Isn't that part of the capitalist world. Take a risk and make money, or lose it? Nowadays in Australia, however, it's more like we're private companies we'll make the profits and keep them, but if we go under we'll make taxpayers pay for everything.

That's a win-win for the companies and lose-lose for consumers/taxpayers.

Methinks something stinks around here and it ain't my jocks.

If there is something that has really got up your nose, let Grumpy Old Coot know at grumpy@webwombat.com