X-Message-Number: 1942
From:  (Thomas Donaldson)
Subject: Re: cryonics: #1919-#1924
Date: Thu, 11 Mar 93 0:59:08 PST


To Mark Kaminsky:

I will simply tell you what I understand of this idea when it was first put
forward, and what happened then. Mike D now believes that we should have
kept as much money as we could and self-insured that way; it is wonderful to
have the virtues of hindsight, .... though so far as I understand now, the
situation isn't much better.

Basically, the objection was raised then that if we tried what you suggest,
we would be considered to be legally an insurance company, and therefore 
subject to all the relevant laws. Since these laws require a large amount
of capital just to start, the idea died. 

Perhaps the situation has changed; perhaps I misunderstood it when it was
first brought up. I'd be interested to see an analysis of our PRESENT
situation, with citations of the relevant laws (which, again, may have
changed). So far, no one on the Net has discussed the present situation 
vis a vis self-insurance, citing laws and facts. 

Yes, there were other objections, the most telling one being the fact that
self-insurance would tie members to Alcor far too closely, given that Alcor
was a small organization. But as I remember it, the idea of self-insurance
died because of the legal problems.

			Best, and long life,
				Thomas Donaldson
-- 

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