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Old 01-29-2009, 06:04 PM
 
Location: Charleston, SC
4,486 posts, read 4,097,962 times
Reputation: 2350
Default Insurance companies: Why are they so greedy??

Why are insurance companies so greedy??
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Old 01-29-2009, 07:09 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,249 posts, read 10,494,067 times
Reputation: 3587
Because the government has let them be greedy.
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Old 01-29-2009, 07:14 PM
 
3,288 posts, read 2,542,677 times
Reputation: 811
Their job is to make profit. What do you expect roses and sunflowers?
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Old 01-29-2009, 07:24 PM
 
Location: Chicago Suburbs
3,194 posts, read 2,396,649 times
Reputation: 1149
Why do liberals want everyone else to pick up the tab?
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Old 01-29-2009, 08:12 PM
 
8,972 posts, read 10,081,007 times
Reputation: 2939
The very NATURE of the business is practically a guarantee that each party will be operating at his 'basest' level. The customer wants low premiums. When he makes a claim, he wants the MAXIMUM allowed. The insurer wants to 'take in money'. When he inevitably is required to 'pay it OUT' again, he struggles to keep costs down, and to make it as difficult as possible to collect. If he DIDN'T, claims would triple in no time.

Neither side 'trusts' the other, and neither side is willing to take the other guy's word on anything.

It's a little like Small Claims Court...people thrown together in a stressful situation, one against the other, whose cases are USUALLY based on the premise that the "other guy" is a crook. Small Claims court is often jokingly referred to a "Liar's Court"...NOBODY tells the cold, hard truth....nor does the judge expect them to. The only GOOD thing about it is that normally, Lawyers aren't present.

The insurance industry is similar....claims are USUALLY always made under wrenching, stressful, unhappy conditions, and the very nature of the business brings out the worst in all involved. Each side is trying to gain the 'max', while conceding as little as possible.
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Old 01-29-2009, 09:19 PM
 
Location: Orlando
7,823 posts, read 6,491,547 times
Reputation: 3591
They are no different than the banks that charge 20+% on charge cards. They use any legal and sometimes not so legal mans to win and make the consumer lose. Insurance companie will never tell you the best options for your claims they will direct and intimidate you to the cheapest solution for them.
They are thieves as are the banks. and we allow it so I guess we get what we deserve.
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Old 01-30-2009, 04:31 PM
 
Location: Pinal County, Arizona
25,105 posts, read 23,005,411 times
Reputation: 4795
Quote:
Originally Posted by nature's message View Post
Why are insurance companies so greedy??
Why do you feel they are "greedy"? And, how do you define "greedy"?
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Old 01-30-2009, 07:26 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,249 posts, read 10,494,067 times
Reputation: 3587
Quote:
Originally Posted by macmeal View Post
The very NATURE of the business is practically a guarantee that each party will be operating at his 'basest' level. The customer wants low premiums. When he makes a claim, he wants the MAXIMUM allowed. The insurer wants to 'take in money'. When he inevitably is required to 'pay it OUT' again, he struggles to keep costs down, and to make it as difficult as possible to collect. If he DIDN'T, claims would triple in no time.

Neither side 'trusts' the other, and neither side is willing to take the other guy's word on anything.

It's a little like Small Claims Court...people thrown together in a stressful situation, one against the other, whose cases are USUALLY based on the premise that the "other guy" is a crook. Small Claims court is often jokingly referred to a "Liar's Court"...NOBODY tells the cold, hard truth....nor does the judge expect them to. The only GOOD thing about it is that normally, Lawyers aren't present.

The insurance industry is similar....claims are USUALLY always made under wrenching, stressful, unhappy conditions, and the very nature of the business brings out the worst in all involved. Each side is trying to gain the 'max', while conceding as little as possible.
I tell the truth in court.
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Old 01-30-2009, 07:30 PM
 
9,420 posts, read 6,820,602 times
Reputation: 2301
There is no business that isn't in operation to make a profit.
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Old 01-30-2009, 07:31 PM
 
11,735 posts, read 10,598,289 times
Reputation: 4237
Quote:
Originally Posted by nature's message View Post
Why are insurance companies so greedy??
Cause they run the country... ask your senators...
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