2013 April 02 Tuesday
How About Insurance Against Folly?

What do you think of liability insurance for gun owners?

A contingent of liberal Democrats in Congress is proposing a new federal gun control idea: mandatory liability insurance for gun owners.

This is an intriguing idea. What I'd like to see (this is a rough cut first attempt):

  • Make voters buy insurance on who they vote for. Did the guy get thrown in jail for corruption? Insurance pays for the damage. Did he start a war that cost $1 trillion dollars? Again, insurance pays.
  • Mandatory insurance on children paid before birth. Did parents give birth to hell spawn who killed or robbed? Insurance pays. Did their kid become a welfare recipient? A high school drop-out? Insurance pays.
  • Did an employer of illegal aliens enable them to give birth to kids who grow up drop out of high school? Insurance should pay. Any employer should pay insurance if they are employing the foreign born. The insurance companies should be allowed to use any attributes they want to use to measure risk and set rates. Whatever works.
  • Bank CEOs should be required to buy insurance that can pay part of the cost of a federal bail-out.

What sorts of insurance do you think we need to align incentives with responsible behavior?

Share |      By Randall Parker at 2013 April 02 08:29 PM 

Black Death said at April 3, 2013 7:10 AM:

I like it. If, for example, a politician promises not to raise taxes ("Read my lips!") and then does so, could we have insurance to pay for it? Or if a politician promises to "cut the deficit in half by the end of my first term" but instead balloons the deficit, could we get insurance to pay for it? Maybe we could roll it into Obamacare, which, after all, is supposed to reduce costs. Oops - we'll need more insurance!

Nation Wide said at April 3, 2013 9:23 AM:

I think bloggers should be forced to buy insurance on their posts. If readers find that the post wasted their time, they can be compensated for their loss.

Randall Parker said at April 3, 2013 9:37 PM:

Black Death,

I think people need to buy insurance before doing things that can have large external costs.

Nation Wide,

My posts do not have large external costs or even small external costs.

Geoff said at April 6, 2013 10:56 AM:

It isn't about insurance.

It's a way for them to get de facto gun registration.

And most Americans who own guns are wise to what happens AFTER gun registration. Isn't civil disobedience supposed to be a good thing?

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