Should their be a legal limit on how much profit an Insurance Company can make? (illegal, health care)

[Freebird2007]

Stalin? Is that you? Come out of that boy now!

[Roadking2003]

Originally Posted by crystalblue

and what about when they deregulate things, and businesses take advantage, ruining the lives of millions? thats ok?

Doesn't happen. Competition keeps prices in check.

Kroger can't charge $10 for a gallon of milk because the store down the street is only charging $3.

Today, there are hundreds of insurance companies. They keep profits slim to be competitive.

[EmmanuelGoldstein]

Originally Posted by pvande55

Insurance is a public utility like the electric company and should have its profit regulated.

Expand and elaborate.

[Roadking2003]

Originally Posted by mhouse2001

If a company can experience no limits on its profits, then banks can charge whatever interest they want, right?

Correct. It really is that simple.

[Calvinist]

This is America, right? Who are the socialists that are whining about a company actually making money?

[Roadking2003]

Originally Posted by crystalblue

what about the people that have lived her for a long time? when they moved here, they were told it was paradise, no, you dont need too much insurance, its cheap now and always will be, yada yada yada. should they lose everything now?
.

Yes. Anyone stupid enough to think that hurricanes don't hit Florida shouldn't be supported by society with a free beach house.

[Roadking2003]

Originally Posted by NewToCA

I like the idea of a common risk pool among the coastal states, but doubt that you would see the cooperation necessary between the states (insurance regulators) to pull that off.

We already have that. It's called reinsurance.

[Quick Enough]

Originally Posted by crystalblue

Consumer group rips insurance industry - Consumer news - MSNBC.com

or should they be allowed to make as much as possible?

I read your article and must have missed, "how much profit" the insurance companies made.

Please provide. Or are you just griping?

[Old Gringo]

There should be a legal limit on the noncompetitive collusion insurance companies are allowed to engage in, resulting in regional monopolies.

[Roadking2003]

Originally Posted by familysearcher

I'd be interested in learning just how much profit health insurance companies make each year.

Does anyone know?

Yahoo Finance says the Life Insurance industry is making 4.7% profit and Health Insurance companies are making 7.2%

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