Government insurance programs arise only where private supply has failed

Evidence

(1) The threshold question is the justification for government action in providing flood insurance. … Is it clear that, if flood insurance were available at more or less reasonable rates from private insurance companies, there would be no need to consider a government program? That, under these circumstances, there would be no political pressure for the program? Note that no one urged that life or accident insurance against floods be furnished by government. — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process, 1885

Categorization

• XREF: Speaks directly to the polyad thread on institutions — when state action is justified by private-market failure. — connects to: Congress has long used insurance and indemnity devices across many federal programs — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process: Basic Problems in…, 1917; Government services face challenge only on scope, not propriety, when private supply fails — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process: Basic Problems in…, 858
• recurring: this claim recurs 2 times within its source