Insurance markets in everything

by on March 22, 2009 at 7:46 pm in Economics | Permalink

Jared Sylvester writes me:

Earlier this month you
made one of your "Markets in Everything" posts on Marginal Revolution
about Hyunadi's program to buy back cars from people who lose their
jobs.  I thought you might be interested to know that Jos A Bank is now
offering to refund the price of a new suit in the same circumstances,
or in the case of the self-employed, in the case of a bankruptcy
filing.  You can find the details here:
http://www.josbank.com/Templates/riskfreesuit.tem

Phil March 22, 2009 at 11:40 pm

Where are the state insurance departments that seem to not be recognizing that embedded offers to indemnify someone based upon the occurrence of a contingent event is insurance-that they are supposed to regulate and ensure the payment thereof.

Mo March 23, 2009 at 9:45 am

Limitations: All requests for rebates must be postmarked no later than July 24, 2009. One rebate per household only. You are only eligible for this rebate if your employment is terminated involuntarily. You are not eligible for this rebate if your employment is ended due to voluntary termination, resignation, retirement, leave of absence, the end of seasonal or temporary employment, death or disability, willful or criminal conduct, the end of an employment contract, or acts of declared or undeclared war.

WTF? Acts of declared or undeclared war? Is this a way out if your place of work is destroyed?

Phil March 23, 2009 at 5:46 pm

WTF? Acts of declared or undeclared war? Is this a
way out if your place of work is destroyed?

Nothing sinister there. Standard exclusion for INSURANCE, see my previous post.

Where are the regulatophiliacs on this?

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