The actuaries should be able to easily adjust the rate requirements to pay for this enhanced benefit. When Georgia enacted requirements that property insurers add diminished value to first party automobile claim payments, the insurers quickly adjusted rates, and the additional income enhanced profits due to investment gaines on reserves. An analogy would be a law requiring all customers to supersize their meals at fast food restaurants. Definitely a win for the insurers.
The actuaries should be able to easily adjust the rate requirements to pay for this enhanced benefit. When Georgia enacted requirements that property insurers add diminished value to first party automobile claim payments, the insurers quickly adjusted rates, and the additional income enhanced profits due to investment gaines on reserves. An analogy would be a law requiring all customers to supersize their meals at fast food restaurants. Definitely a win for the insurers.