November 17, 2013

If You Like Your Insurance, You Can Rent It... Maybe

By C. Edmund Wright
The main reason I left the insurance industry years ago was the fatigue of marketing a product that is misunderstood by the vast majority of its customer base, not to mention the majority of functionaries inside the industry. I was a lousy agent frankly, but for some reason, the concepts were very intuitive to me. I was the high scorer in of all of those licensing and continuing-ed type classes, but those don't pay the bills, so for reasons of money and sanity, I left. Alas, this escape was only temporary, as we all now live in a country where the industry is being seized by a president who remains totally oblivious to its realities. Yet he insists on occupying the position as grand poobah CEO of all of it, and ruling by edict. And his epic "fix" can be translated this way: If you like your coverage, you can rent it. Maybe. There are so many problems with what he said, it's hard to know where to start -- so let's start with the absurdity of a one-year fix. That's no fix. Even...(Read Full Article)