Posted On: April 26, 2008, 1:49 pm CDT

Posted By: wudchuck

the insurance industy is a business and of course has regulations. but if you approved the increase of rates, then you can't force them to lower the rates. what this does is however, makes allstate look bad if the other companies are making reductions. if i want to lose customers, then i would not change thinking that because they have been loyal they still would come to me for my product. if the consumer is smart, they would look for lower costs of the service of insurance. it's not about matter of loyalty, but good business sense on behalf of the consumer. i don't care if i have been with your company many years. if i can dramitically reduce my rates, then why not. if allstate does not see that, then tough. but since the state regulates and approves increases, therefore it can't force mandate a decrease in that insurance. insurance is a business. if they truly want to fight business, then why not go after the oil industry that have gained more and more even still raising gas prices.