Yeah, I strongly dislike banks. But my disgust for insurances is on another level
Discussion
In a proper free market, insurance is a wonderful mechanism.
In this world it's mostly coercion and bullshit
Agreed. Pooling value for common needs or emergencies is a good idea, but who manages the pool is the problem.
You're describing something more like mutual aid or crowdfunding (see CrowdHealth) - different models than insurance based on risk assessment and actuary analysis