But there is always the pain and the loss that the calculating tables ofinsurancecompanies are not able to express, calculate, or compensate for.
A portfolio effect tends to increase the forest cover, while aninsuranceeffect tends to reduce it.
Thus, informed speculation concerning the outcome of the equal antecedent-riskinsurancemechanism would serve as the guideline for evaluating the justice of communal medical provision.
Unlike most social programs, government healthinsuranceinvolves the purchase of services from a clearly defined and often extremely powerful profession.
Unlike old age or unemploymentinsurance, workers’ compensation provided not just income support but also medical benefits.
Insurancefor non-occupational disabilities, by contrast, had no established network of interests; such insurance was virtually non-existent in the private sector.
In the first subsection, we discuss the historical context for adoption of workers’ compensationinsurancein the early twentieth century.
The 70-year old pensioner has to accept substantial probabilities of capital exhaustion within his lifetime relying on aninsuranceequivalent fund solution.
Moreover, and more damagingly, he has established no grounds for preferring the hypotheticalinsurancescheme to the talent auction.
The private sector scheme is managed by private pension institutions :insurancecompanies, corporate pension funds, industry-wide pension funds, and other statutory pension providers.
However, the price ofinsurancefor consumers has not decreased.
As an economic history of fireinsuranceit is indeed likely to be the definitive overall account for many years to come.
This situation changed only in 1967, when separated trust funds were created for health and old ageinsurance.