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Posted by: berkeley 1 year, 6 months ago

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berkeley1 year, 6 months ago

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state laws connect the amount insurance companies can charge their customers to how much they have to pay out on claims.
zero claims means zero income. mass claims equals mass income.

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  IanFraigun1 year, 6 months ago
  
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  Not the way the insurance industry works. I should know I have worked in that industry for over 10 years. You set rates based on expected losses not on past losses. Your goal then is to pay out less than you take in using the delay in payments to invest the premiums so you even make money when you have a bad year.
  Only some states and only some coverages like automobiles are restricted by the state and the state may prevent increases, but unless there is a change in the law will not demand decreases.
  
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