The insurance industry is not really part of a free market at all. It is heavily lobbied and is in the business of making laws through the political system to profit on the backs of all Americans. Who is it that has the biggest yacht again? When I can call my agent and say “hey I’ll give you $30.00 a month to insure me or I’m calling the cops and getting you fined,” the way they will me. Then it will be fair.
Sounds like someone is whining to me TOM! Hey TOM do you work??? Are you sure it’s ok for the company you work for not to make a profit or are profits evil. Boats & Yachts sounds like you are jealous at someone who is successful. Maybe if you go out and become an agent and of course be lazy and don’t work you might have someone give you a yacht.
N.J. is not gaining anything by having GEICO come back. I have never been quoted prices from them that were competitive nor even close to the quotes from others. They should get a false advertising charge against them.
the free market is best wnvironment to set rates in. If Geico feels that they can write low income residents wiht poor credit profitabley, let them put theirr resources to work and find out what rates are neede to do it. Of course the ins. dept. would oversee it, that is fine. You can’t apply political solutions to economic problems, and that is always what insurance issues are. The free market will ultimately determine solutions to difficult problems.
DAVID,
AS AN AGent, I concur w/ the first two sentences of your paragraph, you are Correct. But the rest of your paragraph contridicts the first two sentences. Rates are only RAISED at least here in Florida, after the Dept. Financial Services approves the rate increase of the Insurance Company. If insurance companies don’t make a profit then come to FLORIDA and see what happens to the homeowners market. No one will right new HOMEOWNERS and the ones that had one claim, will get cancellation notices after the second is filed due to a Hurricane(ACT OF GOD). DAVID, Rates increase due to gov’t intervention, and OVER REGULATION. THESE PUNKS with this INTIDALMENT MENTALITY that “EVERYTHING IS OWED TO THEM” “HOW COME MY SPOILED FOOD IN THE FIRDGE IS NOT COVERED DUE TO NO POWER” will make you as a customer always paying more each year because the lawsuits are getting bigger for one thing and Insurance was not made to cover for a splinter in your finger. There is no end in site. TORT REFORM will prevent this. By the way the Auto rates in Florida are 3rd highest in the nation.
Bill, noone is against free market and profitability but the only regulatory body over the insurance industry is your stat insurance commission. The head of most state insurance commissions is a former insurance executive. They never turn down a rate increase.
They raise your rates enough after a claim to cover their expense in2-3 years. One might as well insure themselves. When an insurance company crys for higher rates check their year end profits. Most years it is between 5 and 10 billion dollars. They need rate increases? What they need is real control representing the people.
The insurance industry is not really part of a free market at all. It is heavily lobbied and is in the business of making laws through the political system to profit on the backs of all Americans. Who is it that has the biggest yacht again? When I can call my agent and say “hey I’ll give you $30.00 a month to insure me or I’m calling the cops and getting you fined,” the way they will me. Then it will be fair.
Sounds like someone is whining to me TOM! Hey TOM do you work??? Are you sure it’s ok for the company you work for not to make a profit or are profits evil. Boats & Yachts sounds like you are jealous at someone who is successful. Maybe if you go out and become an agent and of course be lazy and don’t work you might have someone give you a yacht.
I know, I know its all GEORGE BUSH’s fault.
DAM EVIL REPUBLICANS.
N.J. is not gaining anything by having GEICO come back. I have never been quoted prices from them that were competitive nor even close to the quotes from others. They should get a false advertising charge against them.
the free market is best wnvironment to set rates in. If Geico feels that they can write low income residents wiht poor credit profitabley, let them put theirr resources to work and find out what rates are neede to do it. Of course the ins. dept. would oversee it, that is fine. You can’t apply political solutions to economic problems, and that is always what insurance issues are. The free market will ultimately determine solutions to difficult problems.
DAVID,
AS AN AGent, I concur w/ the first two sentences of your paragraph, you are Correct. But the rest of your paragraph contridicts the first two sentences. Rates are only RAISED at least here in Florida, after the Dept. Financial Services approves the rate increase of the Insurance Company. If insurance companies don’t make a profit then come to FLORIDA and see what happens to the homeowners market. No one will right new HOMEOWNERS and the ones that had one claim, will get cancellation notices after the second is filed due to a Hurricane(ACT OF GOD). DAVID, Rates increase due to gov’t intervention, and OVER REGULATION. THESE PUNKS with this INTIDALMENT MENTALITY that “EVERYTHING IS OWED TO THEM” “HOW COME MY SPOILED FOOD IN THE FIRDGE IS NOT COVERED DUE TO NO POWER” will make you as a customer always paying more each year because the lawsuits are getting bigger for one thing and Insurance was not made to cover for a splinter in your finger. There is no end in site. TORT REFORM will prevent this. By the way the Auto rates in Florida are 3rd highest in the nation.
Regards
Bill
Bill, noone is against free market and profitability but the only regulatory body over the insurance industry is your stat insurance commission. The head of most state insurance commissions is a former insurance executive. They never turn down a rate increase.
They raise your rates enough after a claim to cover their expense in2-3 years. One might as well insure themselves. When an insurance company crys for higher rates check their year end profits. Most years it is between 5 and 10 billion dollars. They need rate increases? What they need is real control representing the people.