Surprise! Slaves in Castro Kingdom don’t know what insurance is and can’t afford it

Need any insurance for your collapsing buildings?
Insurance? Yeah, insure this!

Wow!

From our Ignorance-Is-Not-Bliss department: a perfect example of the idiotic expectations set loose by the current occupant of the White House last December.

Six months later, it seems that there are still far too many fools who think that the “normalization” of relations between the U.S. and the Castro regime will automatically turn the totalitarian communist state into a “normal” country.

This misconception also seems to be most prevalent among business people who hope to increase their profits by dealing with the Castro mafia.

Much to their surprise, some in the insurance industry are discovering that Cubans don’t understand the concept of insurance and that the abysmal poverty of the Cuban people prevents them from becoming customers.

Not only that, insurance companies are discovering that there are really no private businesses on the island, despite all those glowing reports on the reforms set in motion by King Raul.

So, it looks as if we won’t be seeing the likes of  Homer Simpson selling insurance door-to-door in Castrogonia any time soon.

Too bad.  Flo, the Progressive Insurance lady was looking forward to doing a commercial in that fabled super-progressive Caribbean utopia.

From Intelligent Insurer:

homer-simpson-doh

Cuban insurance growth slow despite US relations thaw

Opportunities for insurers in Cuba remain limited despite some domestic reform and improved diplomatic relations with the US.

This is according to Axco Insurance Information Services’ latest country report on Cuba, which explained that there is little understanding of insurance in Cuban society as the state makes provision for all aspects of life.

In addition, the Cuban non-life insurance market is traditional and underdeveloped, with just two state-owned companies offering a range of relatively basic products.

The government has stated an intention to promote insurance and has taken action in the agricultural sector, but Axco believes that this is unlikely to produce results until the population is more able to pay for it.

Tim Yeates, managing director at Axco, said: “With little or no insurance culture and a difficult business environment, the opportunities for insurers in Cuba are limited.

“Political and economic changes have so far done little more than allow a few individuals to operate as self-employed; no significant new businesses have been created and, despite the government’s declared intention to promote insurance, an increased demand is yet to been seen.

“The passing of the Foreign Investment Law and a thaw in relations with the United States suggest that, with time, the Cuban market will eventually open up. However, it does not look like this will happen in the short-medium term.”

Whadda ya mean you have no money?  Your country is the most progressive on earth!
Whadda ya mean you can’t afford insurance? Your country is the most progressive on earth and we are Progressive!

2 thoughts on “Surprise! Slaves in Castro Kingdom don’t know what insurance is and can’t afford it”

  1. Yes, Cuba is a joke and is certainly treated as such. Trouble is, plenty of people like it that way.

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