[SEL] NHMA

[Edd Payne]

Curt I can assure you that there is no legal requirement for insurance in
this country.You can take all the risk yourself if you want.As Kerry said
you have to have 3rd party on motor registration but this is all.If you have
a mortgage on your home the lender would require you to have insurance or
they wont lend you the money but this is not a government law.I have no
insurance at all only 3rd party property on my car just in case I hit  a
Merk or Roller and this is only because I want to have it.If you come to OZ
and have a current drivers license that is all you need to drive here.Your
hire car company will cover all other insurance needs.It was exactly the
same when I was in the US.I had a friend with me who wanted to drive and had
to pay extra insurance to the hire car company so we could use a second
driver.
EDD PAYNE
PO BOX 364 GULGONG
New South Wales  AUSTRALIA 2852
0263742387
edsingns at winsoft.net.au
----- Original Message -----
From: "Curt" <curt at imc-group.com>
To: "The SEL email discussion list" <sel at lists.stationary-engine.com>
Sent: Tuesday, October 12, 2004 11:00
Subject: Re: [SEL] NHMA


> peter ogborne wrote:
>
> It would seem to me that the majority of us here in Australia are quite
happy to conform
> and that doesn't mean to be submissive.
>
>
>
> Ah the sheep continue to be shorn.....
>
> I have been following this thread with great interest most due to the
> fact that Missy and I will have the opportunity to experience the fences
> first hand in a few months. At the same time I have been very leery of
> commenting on any of this because soon I will be a guest of your country
> and do not want to alienate any Australians before ever setting foot
> there. So I will limit my comments to simply observatory and will
> attempt to not pass judgment on them....yet.
>
> One item that was a real eye opener was the tremendous homeowner
> liability insurance requirement one mentioned. I think I counted the
> zeros right and that was 20 million of personal liability insurance
> required for the homeowner!!! I'd venture to say most American's
> homeowner liability insurance never exceeds the 1 million mark. And
> guess what, liability insurance is NOT a requirement for the homeowner
> here. The fact that Australia requires it is the very definition of a
> monopoly. Here in the states you carry liability insurance to protect
> your personal assets against lawsuit. There is little sense in insuring
> yourself for much more than the value of your personal assets. If you
> feel you do not want the protection of homeowner liability insurance you
> don't have to carry it.
> The fact that your monopolistic insurance carriers have lobbied your
> legislators requiring you carry these huge liability policies, provides
> the very fuel for the litigation lawyers to feed on.
> If everyone in Australia dropped their excessive insurance the
> litigation lawyers would instantly be put out of business. The view from
> this side of the pond is that your insurance companies are on the take
> with the lawyers. The whole mess is a civilized coercion of much money
> from 19 million people to the lucrative benefit of a few lawyers.
>
> Much of the same can be said for the US too. But the sole difference
> being that purchasing insurance is a freedom, not a definitive
> requirement of the government. Many individuals and companies opt to
> self insure, believing that they conduct themselves with enough care &
> responsibility and that they can save money by funding their own
> litigation fund/savings account, that they don't need to purchase
> expensive 3rd party insurance.
>
> Essentially you are submitting to a "liabilty tax" to provide the sole
> income of both the insurance and legal businesses in your country. The
> shearing of the sheep continues.....
>
> Curt Holland
> Gastonia, NC
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