> 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
>
I know it is just capitalism at work, but there is such a thing as making
too much profit, I have no problem with someone making 30-40% profit off
me, but when it jumps to 100-150+% profit it irritates me.. I'll agree
with you on everything else though...
Bruce
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