Quote:
Originally Posted by Raekwon
I completely understand the hate for insurance but keep in mind its highly regulated. The majority of an insurance companies profit comes from investments and the goal for the policy side is to run at a break even. They can't take from the investment money as that is premiums held to cover losses so when running at a negative rates have to go up. Once the rates go up now and the reforms take place the yearly losses will go down significantly and the company will run in a positive ratio.
Now the fear is why would companies lower rates at this point and that is where competitive pricing comes back into play. When company A lowers rates like they should and Company B doesn't where is everyone going to go? Now company A can make way more money on their safe investments. Now we are back in a consumers market.
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you didn't speak to anything about this:
In a no-fault system, accident victims do not have the right to sue at-fault drivers; instead, their own insurers pay out injury benefits based on predetermined guidelines.
we're supposed to give up our ability to sue, and trust a for profit insurance company to properly take care of our medical needs? who makes these "predetermined guidelines"? The UCP that doesn't trust doctors or science?
have you even dealt with an insurance company for a claim? I'm sure as #### not trusting them to put my need at par with their greed.