Insurance works like this...
You estimate the probability of a claim being filed and the amount of the claim, then you set your premiums such that you can make a profit even if the claim gets filed.
Now, if the probability of the claims and the amount of the claims are such that you must charge a premium that is either unreasonable (won't get customers) or insufficient, you are going to lose money.
You could always bump up the premiums of others who have less risk but then, that is called socialism.
You could not be more wrong, or more ignorant.
Do not pretend to speak knowingly about that which you know nothing, just to insult fellow Americans. This behavior is more suited for liberals.
You could not be more wrong, or more ignorant.
Do not pretend to speak knowingly about that which you know nothing, just to insult fellow Americans. This behavior is more suited for liberals.
The State Board of Insurance dictates the rates to be charged, not the insurance companies.
Insurors do not make their profits by taking in more dollars in premium than they pay out as claims. Indeed, they frequently pay out more.
Insurors make their profits from the dividends of wisely investing those premium dollars until they are paid back out as claims.
You could always bump up the premiums of others who have less risk..
Again, it is the government that sets rates, not the insurors. They are prohibited by law from just 'bumping up the premiums'.
You don't know what insurance is, or how it works. Armed only with ignorance and anger, you insult and malign your neighbors....fellow Americans. How novel.
You could always bump up the premiums of others who have less risk but then, that is called socialism.