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Insurance markets in everything
Jared Sylvester writes me:
Earlier this month you
made one of your "Markets in Everything" posts on Marginal Revolution
about Hyunadi's program to buy back cars from people who lose their
jobs. I thought you might be interested to know that Jos A Bank is now
offering to refund the price of a new suit in the same circumstances,
or in the case of the self-employed, in the case of a bankruptcy
filing. You can find the details here:
http://www.josbank.com/Templates/riskfreesuit.tem
Posted by Tyler Cowen on March 22, 2009 at 07:46 PM in Economics | Permalink
Comments
Where are the state insurance departments that seem to not be recognizing that embedded offers to indemnify someone based upon the occurrence of a contingent event is insurance-that they are supposed to regulate and ensure the payment thereof.
Posted by: Phil at Mar 22, 2009 11:40:14 PM
Also a countercyclical purchase.
Posted by: athelas at Mar 23, 2009 12:28:44 AM
Limitations: All requests for rebates must be postmarked no later than July 24, 2009. One rebate per household only. You are only eligible for this rebate if your employment is terminated involuntarily. You are not eligible for this rebate if your employment is ended due to voluntary termination, resignation, retirement, leave of absence, the end of seasonal or temporary employment, death or disability, willful or criminal conduct, the end of an employment contract, or acts of declared or undeclared war.
WTF? Acts of declared or undeclared war? Is this a way out if your place of work is destroyed?
Posted by: Mo at Mar 23, 2009 9:45:52 AM
So you are not eligible if you are dead.
Posted by: athEIst at Mar 23, 2009 12:59:47 PM
WTF? Acts of declared or undeclared war? Is this a
way out if your place of work is destroyed?
Nothing sinister there. Standard exclusion for INSURANCE, see my previous post.
Where are the regulatophiliacs on this?
Posted by: Phil at Mar 23, 2009 5:46:36 PM
I think it would actually be more useful to have a suit if you were out of a job, because it helps with interviews... though I suppose the money could be more valuable to you than the suit.
Posted by: Ian at Mar 24, 2009 5:40:44 PM
