It is recognized universally that there is a health crisis in many developed countries because of wrong eating practices by their population consuming calorie and fat rich products from the processing industry ignoring the need to balance their diet with protective foods like fruits and vegetables. The health "convulsion" has reached crisis proportions and health insurance sector is worried about increasing pay outs to their subscribers affected by such wrong food habits. Against this background it is shocking to find that some of these very insurance companies are in collusion with the so called fast food industry through their financial stake in their operations!
"Health insurance companies in the U.S., Canada and Europe hold nearly $1.9 billion in fast-food company stock, according to a new study from researchers at Harvard Medical School and the department of medicine at Cambridge Health Alliance. In the study, published this week in the American Journal of Public Health researchers examined major insurance companies' stock holdings with five leading, publicly traded fast food chains: McDonald's, Burger King, Jack in the Box, Yum! Brands (which owns KFC, Taco Bell, and others), and the Wendy's/Arby's Group. They found that, as of June 11, 2009, major health insurers owned $1.88 billion in fast-food stock, representing 2.2% of the companies' total public holdings".
Could it be that the insurance companies preferred to rake in huge profits from the fast food industry realizing that insurance industry is no more lucrative? The huge profits generated by some of the fast food companies year after year are "mouth watering" for any investor wanting to maximize returns on the investment but such a thing happening in the insurance sector cannot be considered ethical or conscionable. Health insurance is to guarantee good health to its subscribers and helping those doing harm to the health of the citizens cannot be condoned.
V.H.POTTY
http://foodtechupdates.blogspot.com
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