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| quote: | Originally posted by Skipper
Insurance is an odd bird. While you won't get people buying more home/car insurance (as people are buying fewer homes/cars), I was doing some research on the health care industry this week and was surprised to learn that health insurance claims/benefits increase in a recession. Turns out people are afraid of getting let go and therefore rush to get all of their dental work, eye exams, etc done just in case they lose their job.
Health care has traditionally been recession resistant, as has the death industry...good time to start your career as a funeral director. |
Home and Auto Insurance is a tricky one. I know a lot of companies that are letting people go because they have lost a lot of money in their investments....and thats where insurance companies make their money.
During a recession the claims departments or the independent insurance adjusters are the ones that benefit and become busy. People are more likely to put in claims when they are tight on money. That small claim seems a lot larger when you don't have money.
I've noticed much larger increases in auto injury claims, casualty claimz (i.e. slip and fall claims) and fraudulent claims. People who normally wouldn't make claims for injuries feel they can make a few dollars from their injury so they take advantage of it.
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| quote: | | Scott has been introduced to the rave scene, and Ecstasy, by Craig. The two of them go out on the weekends, with some of Craigs friends, and stay up all night, dancing in a drug-fueled trance. |
Last edited by Moral Hazard on Apr-26-2011 at 07:48
Last edited by ChemEnhanced on Jan-28-2009 at 22:33
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