On Fri, 5 Dec 1997 10:35:05 -0500 (EST), you wrote:
> they stick it to all their paying customers to make
> up for their losses when a customer is involved in a wreck with an
> uninsured motorists
Just where would you propose they get the money to pay claims if not
from paying customers? You expect them to just *donate* it? If you
were running an insurance company, would *you*? If so, you'd be
tossed instantly from your position as CEO.
Of course they have to pay claims using money from their paying
customers. That's what insurance is all about. If you think they're
making obscene profits doing so, then I suggest you go start your own
insurance company and either:
a. perform a great public service by offering insurance at much lower
rates, or
b. join them & make your own bundle.
If that's too much work, simply pick the insurance company you think
has the highest sustainable ratio of obscene income to stock price,
and invest your pension fund in their stock. You should be able to
retire in short order.
Insurance is a *business*, not a charity. When insurance companies
don't make money, they go out of business. When they make far more
money than other businesses, new insurance companies spring up and
gain market share by cutting prices.
> (Speaking of which I think the rest of the states
> should do like GA and make it illegal not to have insurance, I know
> Tennessee needs to do it, I know of people who live in GA but have =
their
> cars registered in Tenn. so they don't have to have insurance on their
> cars).
Yes. Where they fall down is in still allowing uninsured motorists to
file suit against and collect damages from those who *do* carry
insurance. If it's illegal to drive without insurance, and you don't
carry it, then it ought to be *your* responsibility to pay for any
losses you suffer.
Alternatively, the fine for driving without insurance ought to be at
least equal to any damages you (and your attorney, if any) recover
from another party.
> I also agree that Wayne should find another insurance company....
Absolutely.
Regards,
John
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