Do you think that insurance companies are out of control?

Question

Or is the bottom line justified in every human endeavor?

spock, I find your answer coldly accurate. However you may perceive my question, I am not into repealing freedom for those poor insurance guys.

How about we give greater freedom to your average white collar criminal. Wouldn't that be the best, in your highly logical opinion.

mbr catz -- that's a nice class distinction. The people who run your offices are 'unskilled labor'...

There really are two Americas. Three, if you count all of those who refuse to buy into that crappy game.

dion-have a nice time in your preferred fascist regime...

geez... my guess is you are a twenty something raised on Rush... lovely.

Answer 1

Absolutely! They make a lot of money and when it comes time to pay out...they've got every loop hole to slip out from that responsibility.

Answer 2

Insurance companies are pretty tightly controlled.

There's a phrase for companies that operate without regard for the bottom line - aka, profitability; OUT OF BUSINESS.

Insurance companies HAVE to make a profit, so they can pay their telephone bills, postage, and employees.

If YOU are willing to work for free, thus cutting down the overhead of an insurance office, thus freeing up $25,000 or so to pay claims, please email me your contact information, and I'll get you in an office within a week, full time, answering phones, filing, and doing other unskilled labor tasks.

**Nope, the people who make $25K are unskilled labor. The people who RUN the offices, don't answer phones & file. I won't offer you THAT without a resume.**

Answer 3

The concept is basically that a pool of gamblers wager that you will not take their bet. That is not much different than the old 'shell game', and once the lawyers underwrote the shuffle, everyone pays.
Edit:
http://abcnews.go.com/GMA/story?id=4043101&page=1
I personally have had enough of economic decisions in my life. To own a vehicle I must register (transfer title from me to the state) and insure it. I can drive just one at a time, but must pay hundreds per vehicle. Their discounts mean squat compared to the initial cost, taxes, fuel and repairs.
I prefer to pay out of pocket for 'covered' repairs, no need to give the profits to the underwriters.
I don't believe drivers should drive or own a vehicle unless they can be trusted to safely operate one. Street racing, distractions, and DUI make the risks of suburban living higher. Some of the wealthiest corporations are insurance companies.
I personally don't have health insurance, coverage, or any form of other forced participation scheme to benefit the actuarial pool operators. I do insist they keep their laws off my property.

Answer 4

every attempt to control the industry always results in one of two groups being hurt

if your controls effectively underprice the product, the companies withdraw and buyers can't find it anywhere

if your controls effectively overprice the product, the buyers pay excessive prices and the insurance owners enjoy excess profits and their share price goes up an extra amount.

you can not effectively tell people that they must bet on the losing side in a capitalistic economy. losing providers simply exit the business. too much profit attracts competitors which lowers prices and fixes the profit issue.

Answer 5

Can you be more specific? What type of insurance has attracted your attention?

Answer 6

I'm sure there is a socialist country someplace that would welcome you and your unenlightened Pollyanna ideals.
Go there.

*Univee- Your guess would be wrong. Way wrong.