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6 Fla. Workers' Comp Cos. Ordered to Refund 'Excess' Profits

Southeast News • February 20, 2008
Florida Insurance Commissioner Kevin McCarty has ordered six workers' compensation insurance companies to return $4.2 million in what his agency says are excessive profits to their ...

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Subject: RE: America or Cuba?

Posted On: February 21, 2008, 10:15 am CST
Posted By: Shared Misery
Comment:
It would truly be aweful if these carriers were able to keep this money, make capital investments and improvements, and build a better system.

I don't understand how anyone could be against this; let's look at what this allows and creates in the marketplace....

Since carriers can't make an "unseemly" profit in one year to set aside funds for the next year, they have to charge higher rates each year because there is no may to accurately how many employees are going to fall off of a roof during the year (sure, there is a best guess estimate, but people and storms don't live up to the predictions).

So, the benefit is the rates remain artifically high and the the government can say it is protecting the consuming public.

Socialism is great, the equal sharing of misery and woe.
Subject Posted By Posted On
RE: RE: RE: Excess Profits TAR
Feb 22, 2008, 7:32 am
RE: RE: Excess Profits Ratemaker
Feb 22, 2008, 7:13 am
RE: America or Cuba? Shared Misery
Feb 21, 2008, 10:15 am
RE: Can you have excess profits? Stat Guy
Feb 21, 2008, 9:10 am
RE: Excess Profits joe
Feb 20, 2008, 4:54 pm
Excess Profits Larry Napoletano
Feb 20, 2008, 3:24 pm
Can you have excess profits? lastbat
Feb 20, 2008, 3:15 pm
America or Cuba? Vlad
Feb 20, 2008, 2:26 pm
RE: Excess Profits - Let's apply this to ALL forms of Bus. Derivatives101
Feb 20, 2008, 1:08 pm
RE: RE: RE: Excess Profits Tar
Feb 20, 2008, 12:50 pm
RE: RE: Excess Profits Key West Agent
Feb 20, 2008, 12:46 pm
RE: Excess Profits CT
Feb 20, 2008, 12:40 pm
Refund allocation to policyholder dot_hemath
Feb 20, 2008, 12:28 pm
Excess Profits Karen
Feb 20, 2008, 11:42 am
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