From the FAQ:

There are no set premiums. When your team settles a teammate's claim you may need to pay your part of reimbursement directly to the teammate.

I'm confused...

So, Mr. Paperno, does Joe Blow pay an initial "entry" payment when first setting up his account? And, if so, who decides on the amount of this initial "entry" fee? And it sounds like there's no easy way of leaving a group and taking their money with them once a person is already in one; unlike it being extremely easy leaving an existing insurance company.

Mr. Paperno - there are many reasons why your proposal is a failure, with one reason in particular - scalability. As with bitscoin, your idea is fundamentally unscalable.

There's a reason there can be a Joe Smoe's Corner Deli on every street corner and there's not a Joe Smoe's Corner Insurance Company on every street corner. That's because the latter requires hundreds of thousands of people to make it work. And with your flawed proposal, there's an extra requirement of having every person voting on every car accident payment.

You unsuccessfully make the argument people can turn over their voting rights to proxies.... well guess what... that turns your idea into a centralized insurance company, which is what we already today.

Give it up, Mr. Paperno. Your idea is simply not doable.

And for that, I thank you!