Reading "Health Care Realities" reminded me of my own personal experience with an insurance company.
I had taken insurance cover for my car earlier, from a private owned insurance company, on the promise of "quality" service. I kept renewing insurance for a couple of years, no incidents.
After a couple of years, vehicle had two accidents and I had to make claim twice. Not any significant amount, by the way. To be fair to the insurer, I must say that money was paid and paid on time.
Generally, call for insurance renewal starts a month before the period expires, Surprisingly, neither that company, nor any other private insurance companies, were available for renewing my insurance. I went back to good old Government owned insurance company. Year or two passed without any incidents and then, I sold the car and bought a new one a couple of years back. Now the same old private owned insurance company is behind me to take insurance from them, and I have no motivation to go back to them or any other private insurance company, no matter what "quality" service they offer.
By extension, I have learned to trust good old Government owned banking and financial institutions with my hard earned money. That is when I started respecting the balancing act of Nehruvian mixed economy.
