Posted On: September 28, 2007, 3:16 pm CDT

Posted By: Mark

Tinkerbell,

It is very kind of you to be concerned about others, and want to help all who are affected by disaster. I'm sure you, as well as many others posting here give to relief organizations after disasters, and everyone should be commended for that.

However, giving aid from the goodness of your heart, and having your hard earned money taken from you by the government and given to someone else are two different things. The latter is socialistic, plain and simple. There are already too many entitlement programs in this country which serve no other purpose than to expand the government's grip on our lives.

This country was founded by people that wanted freedom from government oppression and control. We have steadily allowed our freedom and control of our lives to be taken from us by power hungry politicians who feel we are too stupid to make our own decisions and take care of ourselves.

Insurance is a private industry. Its purpose is to make a profit by providing financial protection to its insureds per the contract (policy) it has with those insureds. It is the insurance company's duty to itself and its insureds to price the product adequately so they can maintain substantial reserves which are adequate enough to pay claims as they occur.

State governments regulate the insurance industry in their state to ensure the financial stability of the insurers and protect the insureds from overly aggressive or unfair business practices. That is where it should end. The states should not be limiting the rates insurers charge to such a degree that an insurer can not make a profit. This is why companies leave markets; and with less insurers, i.e. less competition, the cost of insurance rises. If you want to see lower rates, then abolish your state's insurance department and let the free market work.