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Re:Driverless Cars Threaten to Crash Insurers’ Earnings by Artlav on Tuesday July 26, 2016 @01:40PM (#12167362)
Correct me if i'm wrong, but wasn't "insurance" a criminal activity a mere century ago?

If so, why is it bad for it to disappear again?

Can't read the full article, since wsj have a competently implemented "To Read the Full Story, Subscribe or Sign In" shield.

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by jandrese on Tuesday July 26, 2016 @01:56PM (#12167497)
Insurance is generally only criminal when you are talking about protection rackets[1]. If the thing you are buying insurance against is the person selling the insurance, then it is illegal.

There have been a handful of religious communities, like the Mennonites, that don't believe in commercial insurance, but they instead have a community that will step in and help when something happens to one of its members. So it's still a form of insurance, they just don't use money.

[1] https://en.wikipedia.org/wiki/Protection_racket

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by potatolicious on Tuesday July 26, 2016 @01:45PM (#12167412)
Eh? "Insurance" has never been illegal as far as I'm aware...

You're probably thinking about racketeering, but unless you actually believe your home insurer will set fire to your house if you don't buy fire insurance, the comparison probably isn't apt.

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by tomjen3 on Tuesday July 26, 2016 @02:17PM (#12167661)
Insurance markets are almost twice the age of the US. You can't have a huge merchant fleet without insurance, since it would be too risky to sail.

What you may have refered to is a particular ruling that insurance contracts are not commercial contracts, but that has been overturned.

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by hughes on Tuesday July 26, 2016 @01:42PM (#12167384)
Is that accurate? Was insurance illegal in the early 20th century? Illegal to buy or sell?
Re:Driverless Cars Threaten to Crash Insurers’ Earnings by cloudjacker on Tuesday July 26, 2016 @01:43PM (#12167391)
There are many forms of gambling that were prohibited until they were renamed in a way that appeased influential religious communities.

Off the top of my head I can think of insurance products and the futures market.

But if you can find citations that will be very helpful for me!

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by sliverstorm on Tuesday July 26, 2016 @02:01PM (#12167549)
Insurance is used for a fundamentally different purpose, to socialize risk.

A good quote I found: insurance transfers risks that already existed; gambling creates risk for entertainment.

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by cloudjacker on Tuesday July 26, 2016 @02:35PM (#12167800)
A rationalization for Evangelicals. Once you realize the distinctions are all rationalizations to appease people that require cultural distinctions, you'll stop trying to rationalize a difference between financial chances.

Think "why am I more comfortable with gambling because my state mandates I pay it" and think about what circumstances led to that, and then think about what prompted you to care at all.

Re:Driverless Cars Threaten to Crash Insurers’ Earnings by oldmanjay on Tuesday July 26, 2016 @01:56PM (#12167498)
ignoring the merits of insurance for a moment, are you really longing for society to be like it was a century ago? I assure you, we have it way better now.