insurance culture

When and how did we become a society and culture of insurance!?!

Here's a listing of what most people have directly or indirectly:
- car
- home
- life
- health
- workman's comp
- disability
- unemployment
- medicare
- social security

The approximate cost in % of average wages: 50%!!!!!!!!!

If you factor in the cost to business for product/service liability then another few % need to be added.

The cost really is much higher than this. It supports and encourages a litigious society and a sense of entitlement. Both compound the need for more insurance and added cost for the same insurance. This will continue to spiral itself out control and be limited only when people can't feed themselves which is already happening with health care insurance.

Then there's the cost efficiency of the insurance coverage. Insurance companies whether it be Erie Insurance, uncle Sam or your state of residence all have paid people that administer the policies and programs. I'd guess that at least 50% of the oost of insurance is administrative cost. These organizations need to grow to survive so more insurance products are developed and sold.

Some of the big hitters are mandated by federal and state laws. Social Security, Medicare, unemployment, workman's comp, auto ...... Legislators meaning well but feedng the problem with high octane fuel.

The spiral continues unabated.