In the world of insurance, the American insurance market is an important coordinate, which is mature and complex and can provide us with a lot of enlightenment.
There was such a tragedy. On July 25th, 2021, in Benguela city, Angola, when Mr. Yuan boarded the fishing boat acceptance equipment, the gas leaked because the main valve of the fuel tank was not closed, and the maintenance worker exploded when he ignited. Mr. Yuan was affected, fell into a coma, and finally died of his injuries. Fortunately, he was insured with "Good Travel Insurance". After the accident, the insurance company quickly paid the medical expenses, and after more than a year of coordination, it overcame many difficulties such as professional identification and material translation, and finally paid 908,000 yuan to the family, covering the expenses of death, medical care and rescue, so that the family got economic comfort in a foreign country.
Insurance is not a scam, but a safeguard tool. The significance of its existence is to provide economic security for people's lives and help individuals and families cope with economic losses caused by accidents, diseases and other risks. In the United States, a boiler factory worker was seriously injured when he crossed the highway without taking the sidewalk. The court ruled that the boiler factory, the driver, the plaintiff and the transportation bureau should bear the responsibility in proportion, and the injured worker finally got more than 700,000 US dollars. This shows that insurance can provide economic compensation for victims and relieve their economic pressure under the condition of clear responsibility.
However, the insurance industry is not without problems. There are about $80 billion in insurance fraud in the United States every year, and some criminals cheat insurance money through various means. For example, during the 1980s and 1990s, Allen Tiller and his wife set up a complex network of offshore insurance companies, embezzled insurance premiums and refused to pay compensation, which eventually led to the closure of their core life insurance company in 1991. This highlights the importance of insurance industry supervision. There are many anti-fraud agencies in the United States, such as anti-fraud bureaus in 47 States of the United States, with 2000 full-time staff, and a multi-level and all-round anti-insurance fraud system has been established to maintain the healthy operation of the insurance market.
At the same time, the supervision of insurance technology in the United States is relatively loose and encourages innovation. The Financial Conduct Authority (FCA) provides "direct support plan" and "supervision sandbox" for financial technology enterprises to help them develop. However, with the development of insurance technology, regulatory authorities are constantly improving regulatory measures to cope with new risks.
Generally speaking, insurance is not a scam, but an effective risk management tool. In developed countries such as the United States, the maturity of the insurance industry is relatively high, but it also faces problems such as fraud. Through strict supervision, reasonable claims settlement process and continuous development of insurance technology, the insurance industry has provided people with strong economic security and promoted social stability and development to a certain extent.
