about a year ago I remember that the insurance companies took a big hit, so what do these assholes say on cnbc, well we'll just have to raise the premiums of their other customers, so I guess it's alright to screw the little guy to keep their balance sheet in the black, and also keep their stockholders not loseing any value in their stocks, with that kind of blatent disregard what the hell is the value of wallstreet?
The concept of insurance is to spread the risk and reimbursement amongst all the policy holders. The premiums are supposed to cover the anticipated losses for the year, pay the company's operating expenses and provide for a small profit. The real profit for them comes from the short term investment of those premiums before they have to be paid out.
If the actual case, as you suggest, is that the premiums are much higher then what they actualy pay out, their profits would be through the roof and we would all want to invest in them. Its all public knowledge and those "arseholes" on CNBC would tell you just how great their profits are.
What you are saying is exactyly what they want to do, have the govenrment control the insurance companies, have the government handle insurance. Take it out of private hands. Once insurance goes, then will banks, then will retail then will everything.
Don't blame the insurance companies for the high premiums, blame your arsehole neighbour with his multi milion dollar house and his multi million dollar beach house and his $150K BMW they will cost him $5,000 to replace the airbag his arsehole son activated when he hit the back of your pickup on. And blame yourself and your arsehole lawyer who are taking your arsehole neighbour and his fat cat insurance company to court because you think that you can take him for $10 million for the fake whiplash you are claiming.
Oh, and blame your arsehole cousin for suing the local restaruant for $1 million for the coffee he spilled on his lap.
It's not just the so called fatcats responsible for your rising premiums, it's all the arseholes around you trying to screw the fatcats with inflated claims that are the real problem. :-(