Agenda: Insurance and the state

The insurance industry and the state are inextricably entwined with a large number of common interests but competing in a number of areas in looking after the wellbeing of citizens and businesses. On a macro basis, the need for insurance in a communist society is very low with the state owning everything and wanting to look after its citizens completely.

Conversely, in a right wing developed free market economy, insurance has a huge role to play in protecting businesses and the public. At the one end, is North Korea and at the other, the US. Other developed states lie somewhere in between. US citizens pay more in insurance per head than any other nation and Russia and China are probably the fastest insurance growth markets as they develop a capitalist approach; there is no known insurance market in North Korea.

The UK is politically less extreme