If I could start my career over, I'd probably get into the insurance business. It seems fun. Not only do you get to see your face on a billboard, but it's also very profitable. In fact, I've thought about applying an insurance industry business model to build revenue for this website.
Here's my plan:
1. Charge a standard $10 monthly subscription to read TLO.
2. Create a "specialty" subscription that provides access to special areas not covered by the regular subscription.
3. Lobby the government to pass laws requiring everyone with internet access to purchase the subscription, because you never know when you'll read it. If people don't buy a subscription, they'll face jail time, a tax penalty or even lose their Internet access.
4. If people use the subscription, charge them more. If they use it too much, cancel it.
5. If we run out of money and can't come up with enough content to post on the website, ask the government to bail us out.
Genius plan, huh? The only issue is I need to come up with a provision or technicality that will make it difficult for people to actually use the specialty subscription.
Anyway, I'm sharing my love of the insurance industry business model with you after reading this story on News 9. Apparently, insurance companies will soon have to explain what type of earthquakes they'll cover on earthquake insurance plans, because apparently all earthquakes are not created equal.
News 9 has the details:
An increase in earthquakes throughout Oklahoma has many people trying to protect their interests with insurance.
Until now, insurance companies have had all the power with confusing wording in many of those policies, but all that is about to change.
Recently the state insurance commissioner told insurance companies they have 45 days to let consumers know what types of earthquakes they'll cover.
Some cover both naturally occurring and those believed to be induced by oil and gas activity while some insurance companies only cover those they consider to be natural.
Wait. We actually have insurance companies that think Oklahoma has naturally occurring earthquakes? That's so adorable. The things insurance companies will do and say nowadays. They're probably the same ones who insured Dolly Parton's "natural" breast implants for $600,000.
Also, is anyone concerned that our State Insurance Commissioner is letting this happen? This new policy is way too pro-consumer for Oklahoma. It makes me think there's a catch. For example, when the deadline is up, I wouldn't be shocked to hear the insurance companies say "Surprise! Now we're not going to offer coverage for any type of earthquake! Stupid Oklahomans!!! Hahaha!"
Actually, I doubt they'll go that route. Because it's for some reason not covered in homeowner's insurance policies, earthquake insurance is all the rage in the Sooner State. There's too much money to be made. Once again, insurance is a great business model.
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