Quotes about premium

A collection of quotes on the topic of premium, put, people, insurance.

Quotes about premium

“In this marginal land accurate information was at a premium; to know the land was to prosper, not to know it meant starvation, and experts were a lot more valuable than bosses.”

Stephen Baxter book Evolution

Source: Evolution (2002), Chapter 13 “Last Contact” section I (pp. 406-407)

“If, as you hold, the great hulk of the colored people are not yet fit in point of character and influence to hold such positions, it seems to me that it is worth while putting a premium upon the effort among them to achieve the character and standing which will fit them.”

Theodore Roosevelt (1858–1919) American politician, 26th president of the United States

As quoted in speech by Edward de Veaux Morrell https://cdn.loc.gov/service/rbc/lcrbmrp/t2609/t2609.pdf (April 1904) 1900s

People, Color, Effort

“Carlyle said "a lie cannot live." It shows that he did not know how to tell them. If I had taken out a life policy on this one the premiums would have bankrupted me ages ago.”

Mark Twain (1835–1910) American author and humorist

Source: Autobiography of Mark Twain, Vol. 2 (2013), p. 304

Life, Lie, Age

“The art and mystery of banks… is established on the principle that 'private debts are a public blessing.' That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures, and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have exempted them by law from the repayment of these debts beyond a give proportion (generally estimated at one-third). And to fill up the measure of blessing, instead of paying, they receive an interest on what they owe from those to whom they owe; for all the notes, or evidences of what they owe, which we see in circulation, have been lent to somebody on an interest which is levied again on us through the medium of commerce. And they are so ready still to deal out their liberalities to us, that they are now willing to let themselves run in our debt ninety millions more, on our paying them the same premium of six or eight per cent interest, and on the same legal exemption from the repayment of more than thirty millions of the debt, when it shall be called for.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

ME 13:420
1810s, Letters to John Wayles Eppes (1813)

People, Law, Art

“Indeed it would have been a mean-spirited course to go back on the century-old standard on account of so trifling a premium on gold, a premium which, as it turned out, the action of the market wiped out in a few months, before any of the provisions of the Act of 1819 had come into operation.”

Ralph George Hawtrey (1879–1975) British economist

Source: Currency and Credit (1919), Chapter XIVVV, "The Gold Standard" p. 311 (2nd ed. 1921)

“In order to have any hope of obtaining the initiative of his workmen the manager must give some special incentive to his men beyond that which is given to the average of the trade. This incentive can be given in several different ways, as, for example, the hope of rapid promotion or advancement; higher wages, either in the form of generous piecework prices or of a premium or bonus of some kind for good and rapid work; shorter hours of labor; better surroundings and working conditions than are ordinarily given, etc., and, above all, this special incentive should be accompanied by that personal consideration for, and friendly contact with, his workmen which comes only from a genuine and kindly interest in the welfare of those under him.”

Frederick Winslow Taylor (1856–1915) American mechanical engineer and tennis player

Source: Principles of Scientific Management, 1911, p. 87.

Men, Hope, Way, Personality

“The people are beginning to fear that the Irish Government is merely a machinery for their destruction; that, for all the usual functions of Government, this Castle-nuisance is altogether powerless; that it is unable, or unwilling, to take a single step for the prevention of famine, for the encouragement of manufactures, or providing fields of industry, and is only active in promoting, by high premiums and bounties, the horrible manufacture of crimes!”

John Mitchel (1815–1875) Irish politician

Article in The Nation newspaper on 8 November,1845, titled "The Detectives",on the Administration of Government in Ireland

People, Fear

“All Uncle Larry is saying is that individuals have to accept responsibility for their own bad choices. If every time we choose a turd, society, at great expense, simply allows us to redeem it for a pepperoni, then not only will we never learn to make smart choices, we will also surrender the freedom to choose, because a choice without consequences is no choice at all. Maybe it boils down to the premium we want to place on liberty.”

Tom Robbins Half Asleep in Frog Pajamas

Half Asleep in Frog Pajamas (1994)

Freedom, Learning, Time

“Don't simply blame the individuals involved in policy decisions (although they must shoulder the moral and legal responsibilities); blame the sociocultural structure within which they are enmeshed. Search for the role pressures, the premiums and penalties that result from doing or not doing things in certain ways, the goals held out with associated carrots and sticks, and the tensions generated by the often incompatible demands of peers, family, sub- and super-ordinates, politicians, and national flag”

Walter F. Buckley (1922–2006) American sociologist

Source: Society: A Complex Adaptive System--Essays in Social Theory, (1998), p. 256.

Family, Penalty, Way, Search

“… there are now unmistakeable signs of a trend in favor of superior products at premium prices. The consumer is not a moron, she is your wife.”

David Ogilvy (1911–1999) Advertising executive

Ogilvy on Advertising, p. 170

“A credit default swap was confusing mainly because it wasn't really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Two, In the Land Of The Blind, p. 29

“Instead of the joblessness, instead of the millions forced into part-time work, instead of the millions who’ve lost their health insurance, lost their doctors, have faced skyrocketing health insurance premiums, imagine in 2017 a new president signing legislation repealing every word of Obamacare.”

Ted Cruz (1970) American politician

Presidential declaration speech, Ted Cruz declaration speech: Full transcript http://www.independent.co.uk/news/world/americas/ted-cruz-declaration-speech-full-transcript-10128614.html, Independant.co.uk (March 23, 2015) 2010s

Health, Imagination, Time, Parting

“History has not dealt kindly with the aftermath of protracted periods of low risk premiums.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

At a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 26, 2005 http://www.federalreserve.gov/Boarddocs/Speeches/2005/20050826/default.htm. 2000s

History

“Historically … it is traditional and habitual for us to be inadequately prepared. This is the combined result of a number factors, the character of which is only indicated: democracy, which tends to make everyone believe that he knows it all; the preponderance (inherent in democracy) of people whose real interest is in their own welfare as individuals; the glorification of our own victories in war and the corresponding ignorance of our defeats (and disgraces) and of their basic causes; the inability of the average individual (the man in the street) to understand the cause and effect not only in foreign but domestic affairs, as well as his lack of interest in such matters. Added to these elements is the manner in which our representative (republican) form of government has developed as to put a premium on mediocrity and to emphasise the defects of the electorate already mentioned.”

Ernest King (1878–1956) United States Navy admiral, Chief of Naval Operations

p. 236-237.

War, People, Democracy, Understanding

“What, exactly, is the cost of this inaction? Estimates of the total national cost of medical malpractice range from $20 billion to $45 billion annually. But this number hardly tells the whole story. There also is the more hidden cost of defensive medicine, including unnecessary testing and second opinions that send patients scurrying through processes that would not otherwise be ordered and deepen the financial burden of America’s health care system by an estimated three percent of our country’s total health care expenditures. Who ultimately pays these costs? Reckless doctors? Faceless insurance companies? Seldom mentioned, the totality of these expenses ultimately falls exclusively on the consumer, since each malpractice award translates ultimately to increased malpractice insurance premiums, which, in turn, translates to either higher health care costs, fewer physicians (with less competitive pricing pressure), or both.”

Michael Johns (1964) American businessman

"Malpractice: Where Will It End?" Orthopedic Technology Review, September/October 2003, by Michael Johns: Advocating Statutory Constraints on Medical Malpractice

Health, Country

“In many ways, Islam is a beautiful and elegant faith; but it is the nature of religions to put a higher premium on your proper attention to ritual than on your convenience.”

George Alec Effinger book When Gravity Fails

Source: When Gravity Fails (1986), Chapter 7 (p. 89).

Faith, Religion, Beauty, Way

“I’d lived far too long, and with every day that passed the odds kept growing against my lasting much longer. Although they didn’t put it quite that way when giving the sales pitch, my insurance company’s attitude is reflected in the size of the premiums involved.”

Roger Zelazny Isle of the Dead

Source: Isle of the Dead (1969), Chapter 7 (pp. 147-148)

Way

“A military hierarchy automatically places a premium on conservative behavior and dull conformance with precedent; it tends to penalize original and imaginative thinking.”

Robert A. Heinlein book Space Cadet

Source: Space Cadet (1948), Chapter 9 “Long Haul”, p. 101

Behavior, Imagination, Thinking

“Since the state must necessarily provide subsistence for the criminal poor while undergoing punishment, not to do the same for the poor who have not offended is to give a premium on crime.”

John Stuart Mill book Principles of Political Economy

Principles of Political Economy (1848), Book V, Chapter XI, §13

“Saintliness does not hinge upon those things which are put at a premium by the foolishly "saintly," but upon true perfection and great wisdom.”

Moshe Chaim Luzzatto book Mesillat Yesharim

Mesillat Yesharim (1738), Introduction

Wisdom, Perfection

“There's no question young drivers have far more accidents than older ones-but is it our aim to keep them off the roads? Or to allow only rich young people (who can afford the premiums) to drive?”

Andrew Tobias (1947) American journalist

Source: The Invisible Bankers, Everything The Insurance Industry Never Wanted You To Know (1982), Chapter 11, Too Many Underwriters, Too Many Agents, p. 196.

People, Question

“Think of the federal government as a gigantic insurance company (with a sideline business in national defense and homeland security), which does its accounting on a cash basis, only counting premiums and payouts as they go in and out the door. An insurance company with cash accounting... is an accident waiting to happen.”

Peter R. Fisher (1956) American treasury official

While under secretary of the U.S. Treasury in 2002; frequently short-handed as "an insurance company with an army." A Fiscal Train Wreck, Paul, Krugman, Paul Krugman, March 11, 2003, The New York Times http://www.nytimes.com/2003/03/11/opinion/a-fiscal-train-wreck.html, How government is like insurance, June 28, 2011, Thomas F., Schaller, Baltimore Sun http://articles.baltimoresun.com/2011-06-28/news/bs-ed-schaller-20110628_1_unemployment-insurance-premiums-government-insurance, Who First Said the US is 'An Insurance Company with an Army'?, Economist's View, Mark, Thoma, January 17, 2013 http://economistsview.typepad.com/economistsview/2013/01/who-first-said-the-us-is-an-insurance-company-with-an-army.html,

Business, Thinking, Waiting

“The overvaluation of the apparatus of communication and administration is opposed to leadership and the development of leaders. It opposes leadership whose function is to promote appropriate adjustment of ends and means to new environmental conditions, because it opposes change either of status in general or of established procedures and habitual routine. This overvaluation also discourages the development of leaders by retarding the progress of the abler men and by putting an excessive premium on routine qualities.”

Chester Barnard (1886–1961) American businessman

Source: Organization and Management: Selected Papers (1948), p. 240; cited in: Philip Selznick, Leadership in Administration: A Sociological Interpretation, 1957, p. 32.

Men, Communication, Change

“A rich man’s body is like a premium cotton pillow, white and soft and blank. ‘’Ours’’ is different. My father’s spine was a knotted rope, the kind that women use in villages to pull water from wells; the clavicle curved around his neck in high relief, like a dog’s collar; cuts and nicks and scars, like little whip marks in his flesh, ran down his chest and waist, reaching down below his hip bones into his buttocks. The story of a poor man’s life is written on his body, in a sharp pen.”

Aravind Adiga book The White Tiger

The First Night.
The White Tiger (2008)

Life, Women, Dogs, Water

“Those who can bring themselves to renounce wealth, position and power accruing from a social system based on violence and putting a premium on acquisitiveness, and to identify themselves in some real fashion with the struggle of the masses toward the light, may help in a measure — more, doubtless, by life than by words — to devise a more excellent way, a technique of social progress less crude, brutal, costly and slow than mankind has yet evolved.”

A. J. Muste (1885–1967) Christian pacifist and civil rights activist

As quoted in American Power and the New Mandarins (2002) by Noam Chomsky, p. 160.

Life, Way, Fashion, Light

“As I have noted, I find a thoughtful, analytical criticism most helpful. I do not think any judge can address a vast array of cases and issues without testing and re-testing his or her reasoning and opinions in the crucible of debate. However, since we are quite limited in public debate about matters that may come before the court, such debate must, for the most part, occur intramurally, thus placing a premium on outside scholarship.”

Clarence Thomas (1948) Associate Justice of the Supreme Court of the United States

1990s, I Am a Man, a Black Man, an American (1998)

Thinking, Help, Parting

“From my days as a Marine in combat, to my tenure working undercover in the FBI, to my service as a Congressman representing the hardworking families on Staten Island and Brooklyn, I have spent my entire life fighting on behalf of the People with honor and integrity. The past 24 hours haven’t changed a thing, and I plan to work harder than ever for the people I am exceedingly proud to represent. To my constituents, let me be absolutely clear: the trumped-up charges against me are false and after my peers see the truth, justice will prevail. And while this groundless witch hunt proves there are powerful forces dedicated to tarnishing my reputation as part of a political vendetta, I’ll tell you what it doesn’t do: It doesn’t take back the billions of dollars in Superstorm Sandy aid I fought for in Congress, it doesn’t undo my flood insurance reform bill that will spare millions of Americans from skyrocketing premiums and home foreclosures, and it doesn’t negate the countless success stories of my office helping constituents with difficult challenges, from losing health coverage thanks to Obamacare, to being denied veteran survivor benefits, to helping our seniors deal with multiple daily struggles, simply put…the lives my staff and I have touched for the better are innumerable. And that’s why I am so heartened by the outpouring of love and support – I am truly humbled to work for the most salt of the earth people in the world. Which is why I am back working hard and doing what I’ve done from day one, relentless trying to improve their quality of life through old fashioned hard work and determination.”

Michael Grimm (1970) American politician

Facebook (29 April 2014) https://www.facebook.com/repmichaelgrimm 2010s

Love, Life, People, Health

“The thing about free speech and free expression is people that are interested in it are by their very nature always tending to explore the boundaries…In a society that prizes free expression and one that has a great premium upon the marketplace of ideas, it's hard to say that someone went too far in expressing themselves when really no harm was done.”

Jay Leiderman (1971) lawyer

As mentioned on Huffington Post article http://www.huffingtonpost.com/huff-wires/20121005/us-anonymous-man-arrested/

People, Idea, Nature

“It is, then, the strife of all honorable men and women of the twentieth century to see that in the future competition of the races the survival of the fittest shall mean the triumph of the good, the beautiful, and the true; that we may be able to preserve for future civilization all that is really fine and noble and strong, and not continue to put a premium on greed and imprudence and cruelty.”

W.E.B. Du Bois book The Souls of Black Folk

Source: The Souls of Black Folk (1903), Ch. IX: Of the Sons of Master and Man

Women, Men, Beauty, Strong

““Do you realize,” he asked, “that the whole purpose of civilization is to take the surprises out of life, so one can be bored to death? That a culture in which nothing unexpected ever happens is in what is called its Golden Age? That when nobody can even imagine anything happening unexpectedly, that they later fondly refer to that period as the Good Old Days?”
“I hadn’t thought of it in just those words, sir—”
“It is one of the most-avoided facts of life,” said the ambassador. “Government, in the local or planetary sense of the word, is an organization for the suppression of adventure. Taxes are, in part, the insurance premiums one pays for protection against the unpredictable.”

Murray Leinster book The Pirates of Zan

Source: The Pirates of Zan (1959), Chapter 2

Life, Death, Age, Imagination

“• New Special Provision under the Department of Health on the National Health Insurance Program, allocating the sum of P37.060 billion to cover the full premium subsidy of the health insurance premium for the following: a) Indigent Families under the NHTS-PR of the DSWD; b) Existing 2014 Poor and Low Income Enrolees, other than the Indigent Families under the NHTS-PR of DSWD, enrolled under the National Health Insurance Program (NHIP) whose enrolment have been validated and renewed for 2015; c) Indigent Elected and Appointed Barangay Officials, which shall include the Punong Barangay, Members of the Sangguniang Barangay, Barangay Secretary, Barangay Treasurer, Barangay Health Workers and Barangay Tanod; and d) Senior Citizens, again, in accordance with law;”

Francis Escudero (1969) Filipino politician

2014, Speech: Sponsorship Speech for the FY 2015 National Budget

Health, Family, Law

“If there is one thing more than another better established about the British Constitution it is this, that the Commons, and the Commons alone, have the complete control of supply and ways and means. And what our fathers established through centuries of struggles and of strife, even of bloodshed, we are not going to be traitors to. Who talks about altering and meddling with the Constitution? The Constitutional Party…As long as the Constitution gave rank and possession and power it was not to be interfered with. As long as it secured even their sports from intrusion, and made interference with them a crime; as long as the Constitution forced royalties and ground-rents and fees, premiums and fines, the black retinue of extraction; as long as it showered writs, and summonses, and injunctions, and distresses, and warrants to enforce them, then the Constitution was inviolate, it was sacred, it was something that was put in the same category as religion, that no man ought to touch, and something that the chivalry of the nation ought to range in defence of. But the moment the Constitution looks round, the moment the Constitution begins to discover that there are millions of people outside the park gates who need attention, then the Constitution is to be torn to pieces. Let them realize what they are doing. They are forcing revolution.”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

Speech in Newcastle (9 October 1909), quoted in The Times (11 October 1909), p. 6
Chancellor of the Exchequer

People, Religion, Way, Sport

John D. Barrow (1952–2020) British scientist

The Book of Universes: Exploring the Limits of the Cosmos (2011)
Context: Aristotle believed that the world did not come into being at some time in the past; it had always existed and it would always exist, unchanged in essence for ever. He placed a high premium on symmetry and believed that the sphere was the most perfect of all shapes. Hence the universe must be spherical.... An important feature of the spherical shape... was the fact that when a sphere rotates it does not cut into empty space where there is no matter and it leaves no empty space behind.... A vacuum was impossible. It could no more exist than an infinite physical quantity.... Circular motion was the most perfect and natural movement of all.<!--ch. 1, pp. 12-13

World, Time, Past

“The southern whites would rather have had Negroes who stole, work for them than Negroes who knew, however dimly, the worth of their own humanity. Hence, whites placed a premium upon black deceit; they encouraged irresponsibility; and their rewards were bestowed upon us blacks in the degree that we could make them feel safe and superior.”

Richard Wright book Black Boy

Black Boy (1945)

Feeling

“In short, you offered a premium for the encouragement of idleness, and you should not now wonder that it has had its effect in the increase of poverty”

Benjamin Franklin (1706–1790) American author, printer, political theorist, politician, postmaster, scientist, inventor, civic activist, …

On the Price of Corn and Management of the Poor http://founding.com/founders-library/american-political-figures/benjamin-franklin/on-the-price-of-corn-and-management-of-the-poor/ (29 November 1766). Context: I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. In my youth I travelled much, and I observed in different countries, that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer. There is no country in the world where so many provisions are established for them; so many hospitals to receive them when they are sick or lame, founded and maintained by voluntary charities; so many alms-houses for the aged of both sexes, together with a solemn general law made by the rich to subject their estates to a heavy tax for the support of the poor. Under all these obligations, are our poor modest, humble, and thankful; and do they use their best endeavours to maintain themselves, and lighten our shoulders of this burthen? On the contrary, I affirm that there is no country in the world in which the poor are more idle, dissolute, drunken, and insolent. The day you passed that act, you took away from before their eyes the greatest of all inducements to industry, frugality, and sobriety, by giving them a dependence on somewhat else than a careful accumulation during youth and health, for support in age or sickness. In short, you offered a premium for the encouragement of idleness, and you should not now wonder that it has had its effect in the increase of poverty.

“The forces of Hannibal, Drake and Napoleon moved at best with the horses' gallop or the speed of wind on sail. Now, aviation brings a new concept of time and distance to the affairs of men. It demands adaptability to change, places a premium on quickness of thought and speed of action.”

Charles Lindbergh (1902–1974) American aviator, author, inventor, explorer, and social activist

Aviation, Geography, and Race (1939)
Context: The forces of Hannibal, Drake and Napoleon moved at best with the horses' gallop or the speed of wind on sail. Now, aviation brings a new concept of time and distance to the affairs of men. It demands adaptability to change, places a premium on quickness of thought and speed of action.
Military strength has become more dynamic and less tangible. A new alignment of power has taken place, and there is no adequate peacetime measure for its effect on the influence of nations. There seems no way to agree on the rights it brings to some and takes from others.

Men, Change, Time, Horse

“The organization of society with you was such that officials were under a constant temptation to misuse their power for the private profit of themselves or others. Under such circumstances it seems almost strange that you dared entrust them with any of your affairs. Nowadays, on the contrary, society is so constituted that there is absolutely no way in which an official, however ill-disposed, could possibly make any profit for himself or any one else by a misuse of his power. Let him be as bad an official as you please, he cannot be a corrupt one. There is no motive to be. The social system no longer offers a premium on dishonesty.”

Edward Bellamy (1850–1898) American author and socialist

Source: Looking Backward, 2000-1887 http://www.gutenberg.org/ebooks/25439 (1888), Ch. 6.

Way, Bad luck, Making love, Motivation

“Aristotle believed that the world did not come into being at some time in the past; it had always existed and it would always exist, unchanged in essence for ever. He placed a high premium on symmetry and believed that the sphere was the most perfect of all shapes. Hence the universe must be spherical. …An important feature of the spherical shape… was the fact that when a sphere rotates it does not cut into empty space where there is no matter and it leaves no empty space behind. …A vacuum was impossible. It could no more exist than an infinite physical quantity. …Circular motion was the most perfect and natural movement of all.”

John D. Barrow (1952–2020) British scientist

The Book of Universes: Exploring the Limits of the Cosmos (2011)

Time, Past, Nature, Universe

“There are information asymmetries in this story. Health insurance is limping along. It's limited in scope, and then you other consequences. Insurance companies have high premiums to protect themselves. The ones who come to the insurance company are sicker and the people have to pay more. You have adverse selection. You have moral hazard. And the doctor does what's on the safe side -- defensive medicine -- without regard to cost. These are fundamental conditions that make health insurance difficult. You have some things that help. Some doctors understand that they shouldn't abuse the system. But you still see problems in the way doctors behave towards patients. They goof off. Sometimes it's too much work. Some things are difficult and risky to diagnose.”

Kenneth Arrow (1921–2017) American economist

quoted in Conor Clarke, An Interview with Kenneth Arrow, Part Two https://www.theatlantic.com/politics/archive/2009/07/an-interview-with-kenneth-arrow-part-two/22279/ (2009) New millennium

Understanding, Help, Health, People

“Scientific writing is abhorrently stylized and places a premium on poor quality.”

Isaac Asimov book Buy Jupiter and Other Stories

Buy Jupiter and Other Stories (1975), p. 82
General sources

“Because physical theories typically predict numerical values, an improvement in experimental precision reduces the tolerance range and hence increases corroborability. In most psychological research, improved power of a statistical design leads to a prior probability approaching ½ of finding a significant difference in the theoretically predicted direction. Hence the corroboration yielded by "success" is very weak, and becomes weaker with increased precision. "Statistical significance" plays a logical role in psychology precisely the reverse of its role in physics. This problem is worsened by certain unhealthy tendencies prevalent among psychologists, such as a premium placed on experimental "cuteness" and a free reliance upon ad hoc explanations to avoid refutation.”

Paul E. Meehl (1920–2003) American psychologist

Source: [Theory-testing in psychology and physics: A methodological paradox, Philosophy of Science, 34, 2, 1967, 103–115, https://www.journals.uchicago.edu/doi/abs/10.1086/288135]

Problem, Success