1. What problem occurred after Hurricane Katrina that has prevented
The dam broke which caused flooding. Only 5 out of 26,000 peoples
houses weren’t flooded.
2. Why is disclosure important when taking out insurance?
So you know what your getting yourself into. So you know what your
insured for.
3. Who invented the insurance fund? What was the insurance that they
invented for?
Two Scottish ministers, in 1744. It was invented for Widows of the
clergy men and Orphans. (aka Widows fund)
4. How did the idea of welfare develop? What areas were covered in
state welfare?
Otto von Bismarck, the first Chancellor of Germany, created the modern
welfare state by building on a tradition of welfare programs in Prussia
and Saxony. Social welfare in the United Kingdom, France, Germany,
Sweden, United States
5. Which country is known as the welfare superpower? Why? What was
problematic about the system?
The first super power was Japan. Disaster kept striking (an
earthquake) They set it up to promote warfare. Japan went to war
with the U.S.
6. What country first began to dismantle its welfare state? What was put
in its place?
Chili. Democracy was restored,
7. What other methods can people use to protect themselves from
unexpected disasters?
They can be protected by being hedged-hedge fund.
8. Why do individuals buy insurance policies?
People purchase insurance policies so they are protected if the worst
happens. With out insurance you could easily become in debt because of
an accident.
9. What are some of the advantages and disadvantages with insurance?
An advantage is being covered if the worst happens. Not having car
insurance is a $500 dollar ticket so you are better off having it then
getting caught without it.
Some disadvantages are buying insurance and never using it or there
being a loop hole and something not being covered.
10.The video discusses government sponsored programs in some
countries to provide for individuals when the unexpected happens,
such as providing unemployment benefits, health insurance, and so
on. Do you think governments should provide insurance programs to
individuals? Why or why not?
I think that if an individual is truly going through a tough time or just lost
their job or is disabled the government should help them for a short term.
I think that it is not the government’s responsibility to provide every
individual with health care and insurance and other incentives when they
have never earned it. I think that you should have to pass a drug test in
order to get those incentives too.