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The Paradox of Welfare and Insurance

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  • C J M Schuyt

Abstract

Insurances provide solidarity, and the premium is the price for avoiding risks. But with the passing of time the insured have increasingly come to look on the premium as a payment that gives rights. People took less care and personal responsibility made way for the shifting of responsibility onto society as a whole. Higher claims led to higher premiums, thus reinforcing this behaviour. Changes are necessary in the way the system of insuring is organised, but these changes need to be in harmony with the sense of responsibility prevailing in a society

Suggested Citation

  • C J M Schuyt, 1995. "The Paradox of Welfare and Insurance," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 20(4), pages 430-438, October.
  • Handle: RePEc:pal:gpprii:v:20:y:1995:i:4:p:430-438
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