Quote:
Originally Posted by banyon  handing everyone's $ to the insurance industry that has already made money hand over fist for the last 15 years. |
Ouch! I can't speak for health insurers - they have their own special place in my heart.....I can speak for property/casualty insurers. In the 80's and very early 90's, I would agree. They made money hand over fist and invested it poorly. We're back to seeing companies that MUST make an underwriting profit to stay in business. Is that a bad thing? No - the industry employs a major amount of America's office and tech employees. Do you remember the WTC? That bankrupted 3
major companies. So, I agree, in the 80's (which was 15-20 years ago), there was plenty of money in it and CEO's were getting filthy rich. It's just the opposite now. Health insurers don't post the profits that most of America's larger corporations do. It's a misnomer and a popular belief. It's just not true.