I think I understand New York's ebike fire problem a little better now.

[Roamers]

if the insurance companies want to reduce their risk, they can do so by not selling insurance.

Correct, which is what many do in Florida. My in-laws could get liability but not property damage at a reasonable cost; made sense to self insure for property damage. And they had no claim in the 25 years they lived there.

 

[rob feature]

I think the insurance model is to reduce their risk, not yours.

"Insurance experience ratings are losses an insured party has relative to similar insured parties. Experience ratings help determine the likelihood an insured will file a claim. Insurers charge higher premiums to risky policyholders, which also incentivizes the policyholder to improve risk management practices".

It's a risk pool (often multiple category pools), not individual risk. If there is an event, everyone in the pool goes up to replenish fund bucket.

My insurance company has several programs offered to "help me manage risk" but I don’t partake because every one of them provides info (internet connection) to a comany (partner to insurance company) that will help them manage risk (increase my premium.)

The best proactive risk management I've seen from an ins company was 40 years or so ago an unusually high flood of the Mississippi River was expected (that as I recall redefined 50 or 100 year floodplain.) One company paid to lift mobile homes in a park 8' before the water rose.

According to my insurance company, this is spot on. My truck insurance went through the roof on the last renewal, so I called to ask what that was all about. In a nutshell, they told me that everyone absorbs the costs of increased payouts. They were surprisingly forthcoming about it.

 

[Chargeride]

Just dont give them any ideas please.

They are talking about insurance in the UK for cyclists and its only a matter of time before they replace the police completely with insurance for shxt happening at a premium of half your income

 

[BEC111]

Just dont give them any ideas please.

They are talking about insurance in the UK for cyclists and its only a matter of time before they replace the police completely with insurance for shxt happening at a premium of half your income

Sounds more and more like a protection racket.