In response to Looks like I'm going to :

Your definition of the word insurance is simply one of many. You chose the example of using mutuality. The presence of compassion is not the deciding factor. In fact compassion has very little to do with the concept of insurance. Purchasing insurance is done precisely for self interest because you are assured that you will be treated the same as the others should a loss occur. A loss which you deem unbearable and are willing to exchange for a premium  in this case dollars. This situation is decidedly void of compassion. Now a group mutually insuring the whole may feel emotional bonds after the fact but enlightened self-interest was the original motivation.

The concept of insurance involves the transfer OR mitigation of risk. Both can be done without using the pooling mechanism outlined above. The classic example of purchasing a put or selling a call option to mitigate the risk of a decline in the price of stock. Again, there is an absence of compassion on both the buyers and sellers part.

When I purchase preps I wish to insure that I have supplies through a point in time where I feel there is an unbearable risk that said supplies will be unavailable. If that risk should materialize into an eventuality, my supplies are priceless. And, the outcome I wanted to avoid was indeed avoided. I paid a small price to receive a large benefit by mitigating or eliminating the risk associated with going with out food.

-- gary (a@a.com), January 07, 2000

Answers

I have some Alien Invasion insurance for only $100. It will protect you and your family from being abducted by aliens. Just post your credit card number to this thread, and I'll get those policies out right away. Don't just do it for yourself, do it for your children.

After all, it's not the ODDS, it's the STAKES.

-- (buy@it.now), January 07, 2000.

My Dear mr. "Buy it"..

Sir I would suggest that you go back through the threads for the past five days. Count up the number of oil refinery fires. The number of reported voltage "spikes" (and yes engineer! Those are rare). The times that the FAA has gone off the line.

Young sir! Something evil this way comes! It is slow but it is building in numbers daily. At what point do the niggly piggly glitches become so numerous that they get away from "us". (And little engineer...I am using 'us' as a metaphor- I don't do remeadation of soft ware). And the Y2K problem is rapidly becoming main frame Legacy problem...And like they are saying."I don't know what the matter is...But she ain't Y2K boys!"

Well! With Ford anouncing a plant taking a week's holiday and GMC saying that two of their Saturn plants are on a hiatus also...Save your bycycles! Beats walking!

~~~~~~~~~~~~~~~~~~~~Shakey~~~~~~~~~~~~~~~~~

-- Shakey (in_a_bunker@fort.feet), January 07, 2000.

Looks like we're going to have a very dry winter here. The reservoirs are way down, and I overheard some farmers on the scannner fretting over the critical water situation here. From the jist of the conversation, they are only going to be allotted half of what they normally get. Does that mean half the crops are going to be planted? I live in rice country and from my window, I can look out and see thousands of acres of rice fields. Water and power from the dam here are shipped to LA. No rain, means no water or power will be shipped and 1/2 the crops will be planted. With flooding in Mexico and South America, it has wiped out crops and it will take time for recovery. There's signs up in Raley's supermarket that says "Due to severe weather conditions, we had to raise the price of produce, we hope this will be temporary." Anyone else notice the price increase on food? I have enough water to see me through for a few months, and enough food for 2 years. I feel pretty darn good about my insurance, because without water and food, people will die.

-- bardou (bardou@baloney.com), January 07, 2000.

Hey buy it:

What if I want to be abducted by aliens?!!

You're making my point, thanks.

Insurance is always a choice. First my personal assessment is that my risk of being abducted is too small. Second, you have not articulated my benefit if I am abducted (will you come get me or will you pay my family, etc.). Last, I doubt you ability to provide the benfit suggested.

Therefore, I respectfully decline.

-- gary (a@a.com), January 07, 2000.

First my personal assessment is that my risk of being abducted is too small.

It's not the ODDS, it's the STAKES.

Second, you have not articulated my benefit if I am abducted (will you come get me or will you pay my family, etc.).

We will provide a special blend of salad dressing which you will wear on your head at all times. This salad dressing will repel the aliens and keep you from harm, should you encounter any.

Last, I doubt you ability to provide the benfit suggested.

Interesting how you can doubt our ability to provide the benefit before you have even heard it. It sounds like you're in denial and simply don't want to deal with the problem.

As it happens, there are several groups that deal in alien abduction information. Specifically, my cousin's sister-in-law's babysitter's aunt's gardner has developed the salad dressing repellent and assures me that it will function. In addition, several anonymous heads of government and business can attest to the veracity of this claim under the condition that they remain anonymous and are not interviewed by anyone except myself. Finally, the government has categorically denied any of this information, which only serves to fully confirm their validity.

Therefore, I respectfully decline.

Decline all you want. Just don't blame me when you're shovelling lime on the hastily-dug and shallow graves of the corpses of your children.

-- (buy@it.now), January 07, 2000.

That's a nice piece Gary. It goes hand in hand with my concept of "food insurance" that I use as the reason for making many of the preparedness efforts outlined in my book and in the Prudent Food Storage FAQ.

Many organizations, such as the major state university I work for, choose to self-insure. The medical, disability and child-care savings accounts that some use here in the U.S. are another form of self-insurance. That's all food storage is, self-insuring yourself against the possibility that at some point in the future there may not be easy access to food, or at least many kinds of foods. I've had auto accidents and I've had times when for one reason or another I didn't have easy access to food supplies. I'd no more go without a food storage program now than I would drive my truck without auto insurance. The insurance premiums I pay to Allstate are essentially wasted for every year I have no need to collect but the food storage I'm going to eat regardless even if my local grocer never falters.

Unlike auto insurance (at least here in Florida) which you are compelled to buy no one will make you start a preparedness program. If you choose to go without that form of self-insurance it's your choice but others will decide differently for themselves.

.........Alan.

The Providence Cooperative - A great source of preparedness information

http://www.providenceco-op.com

-- A.T. Hagan (athagan@netscape.net), January 07, 2000.

buy it:

"Decline all you want. Just don't blame me when you're shovelling lime on the hastily-dug and shallow graves of the corpses of your children."

That was paticularly crude. You come here to mock us for reasons that'll I speculate that you don't care for our views or us as people. Your sarcasim has turned to true ugliness. Go look in the mirror and say those ugly words and see what you've become.

Up 'til there I was going to point that the most fearsome creature in the universe is my devoted Cocker Spaniel. Any landing force would flee in terror if she were to be "unleashed".

-- gary (a@a.com), January 07, 2000.

buy it: "Decline all you want. Just don't blame me when you're shovelling lime on the hastily-dug and shallow graves of the corpses of your children."

That was paticularly crude. You come here to mock us for reasons that'll I speculate that you don't care for our views or us as people. Your sarcasim has turned to true ugliness. Go look in the mirror and say those ugly words and see what you've become.

Go tell that to this guy. Then maybe you'll understand

-- (buy@it.now), January 08, 2000.