The entanglement between the insurance and banking industries makes the insurance industry just as big a target as banking. Unless insurance policies are activated by events, most people believe that they think they are protected from the elements and will be able to weather the storms without their financial status being compromised. Yet because disaster takes place in single areas, people mostly never discover what the real facts are and even when told they have real trouble believing that the stories can possibly be true. Well I am afraid to say they are… there are so many thousands of Americans and New Zealanders who can vouch for what I say. Those who are unhappy with insurers performance are in the vast majority and those who are happy have very probably only suffered minimal damage as a consequence of the earthquakes.
In Christchurch, post earthquakes and contrary to many people’s expectations, insurance profits have soared as they have done everywhere else in times of disaster. For many of us this would seem counter intuitive.
The insurance industry is an industry funded by fear- when a big event takes place those in nearby places watching in horror are reminded of their own vulnerability and rush off to increase their cover. Is that what you did after Hurricane Sandy?… Yes this is what happens… You will notice that the amount of insurance advertising has increased in volume on the TV and in local papers. They have even been sponsoring community events. We’ll take care of your stuff!
Do they really think we’re that naive. Of course we do know what’s happening. Their market share here in Canterbury has been so badly affected by their performance that they are needing to sell their wares any way they can. There is no doubt that there will be thousands of Cantabrians who go elsewhere for their insurance fix next time round. Once bitten, twice shy – that’s for sure!
The reality is that for those of you not affected, it may be very difficult to imagine what the real situation would be if you had to draw on that expensive cover you have purchased and hope you will never need to use. That’s what we thought too!
Cantabrians have become experts on insurance cover over these past two years. There is a wealth of history and knowledge about the industry and in the main, experiences are not good. If you want to know how your insurer performed or is performing ring a few Cantabrians – the stories you are likely to hear will astound you.
Recently, during one of the insurance protests I attended we were sharing the same ground with a group of ‘Occupy Movement’ protestors. At the time I did not think too much of it. They were carrying their banners and we ours. But as time has progressed I have come to understand that both groups are fighting the same battle.
Yes, though our battle is more targeted – the insurance industry.
But what has become ever increasingly clear is that they/we are one and the same group- faced with increasingly greedy corporates with no other interest than their shareholders and following through on the antisocial policies of their boards of directors. We the affected people represent little more than their next meal ticket.
Amongst ‘good middle class’ company I have often heard people say don’t go associating yourself with the Occupy Movement as they have no power, they’re young people with no direction and no specific cause.
Yet these past two years have pushed me to the conclusion that this is not so. The occupy movements slogan is…
“We are the 99%. We are getting kicked out of our homes. We are forced to choose between groceries and rent. We are denied quality medical care. We are suffering from environmental pollution. We are working long hours for little pay and no rights, if we’re working at all. We are getting nothing while the other 1 percent is getting everything. We are the 99 percent.”
I have come to understand throughout this Canterbury experience that it is true that the government by the people and for the people has become a thing of the past, our democractic process is a sham and that dramatic change is required.
~ Future Proofing for a sustainable, participatory, democratic society.