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| quote: | Originally posted by rabbitjoker
Last time I checked - insurance companies weren't registered charities.
The purpose of any corporation is maximize earnings for shareholders within the scope of the law.
If an insurance company decides to be VERY profitable because of high premiums - so be it. As a policy holder you are not entitled to low premiums, nor are you entitled to dictate how much profit the insurance company should make.
If you don't like the above - then only work with mutuals, that way you'll receive refunds on your policy if the costs were overestimated.
If you don't like corporations making profits (profits that they define themselves) then call your MPP and complain that capitalism doesn't work. |
*thumbsup*
profits are not the issue...no one complains when car makers or banks turn a profit...so why insurers? So many people feel that they are "entitled" to own a car and pay low insurance premiums, lol.
Obviously the industry needs "fixing"...but I have no problem with companies making a profit. Those profits, btw, are for home and auto insurance, include all companies, and the overall figure provides no breakdown of WHICH companies made a big profit, which did not, and where those profits came from (home, auto, premiums, investment, etc).
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