John A Cassani
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Karl Denninger wrote a good column today about how corrupt every sector of the insurance industry is. Since they are regulated to a 10% profit margin, they can only make more money by having more total claims, or, more expensive claims. This is especially true in auto insurance, and healthcare, but certainly is not limited to just those. But, driver safety and better overall health do nothing for …More
Karl Denninger wrote a good column today about how corrupt every sector of the insurance industry is. Since they are regulated to a 10% profit margin, they can only make more money by having more total claims, or, more expensive claims. This is especially true in auto insurance, and healthcare, but certainly is not limited to just those. But, driver safety and better overall health do nothing for their bottom line.
Tom Morelli
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Agree with most of what you say. Both auto insurance companies and healthcare institutions are dependent on those in the citizenry who DON'T drive carefully and/or look after their health.
John A Cassani
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@Tom Morelli They are also dependent on expensive procedures, and cars that are ever more expensive to fix. And, the safe drivers pay for the bad ones.