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The question was to TigerLily who seems to believe Trump filing a claim is enriching himself with other peoples money yet is oblivious to insurance companies who enrich themselves with other peoples money.
Regardless of bond rates as I gave an example of State Farms profits for 2017. 2.2 billion isnt anything to sneeze at.
They wrote over 60 billion in premium.
Soooo, their profits were less than 4% of total premiums written.
It's somewhat galling when a business that works in arguably the most heavily regulated business in the US and has to get regulatory pre-approval for almost all their products and the prices they charge....and makes a low single digit profit margin is somehow "enriching themselves with other peoples money."
I cannot fathom what you do for a living but whatever it is....I guess you just enrich yourself with other peoples money too.
Soooo, their profits were less than 4% of total premiums written.
It's somewhat galling when a business that works in arguably the most heavily regulated business in the US and has to get regulatory pre-approval for almost all their products and the prices they charge....and makes a low single digit profit margin is somehow "enriching themselves with other peoples money."
I cannot fathom what you do for a living but whatever it is....I guess you just enrich yourself with other peoples money too.
If I were the owner of the business, yes. Insurance companies are in business to make a profit, and they do, just like any other successful business. That is the point of a business, no? Nothing wrong with it.
Regardless of how many claims they pay out they generally make a profit or they go under.
I'm not sure why you have such a problem with the fact that business' make money and that money is generated by monies collected for providing products or services.
If I were the owner of the business, yes. Insurance companies are in business to make a profit, and they do, just like any other successful business. That is the point of a business, no? Nothing wrong with it.
Regardless of how many claims they pay out they generally make a profit or they go under.
I'm not sure why you have such a problem with the fact that business' make money and that money is generated by monies collected for providing products or services.
So after all your posts attacking insurance companies over them making money and I explained how it works, provided additional information on profit margins and so forth.....you then try to claim that I'm the one with a problem with a company making a profit.
I cannot fathom what is going on in your posts, all the best.
So after all your posts attacking insurance companies over them making money and I explained how it works, provided additional information on profit margins and so forth.....you then try to claim that I'm the one with a problem with a company making a profit.
I cannot fathom what is going on in your posts, all the best.
I think there is a big misunderstanding. For one I'm not attacking insurance companies. You seem to be having a problem with me stating a fact than insurance do make a profit. And I know to some extent how insurances companies work.
Here is how it went.
Quote:
Originally Posted by TigerLily24
You don’t think it’s wrong to enrich oneself using other people’s money?
Interesting.
OP, you know it’s true.
I know it’s true.
This information was available during the 2016 campaign along with the details of other similar swindles (Trump U anyone?).
It shows how much of a grifter is this president, something those of us from NYC knew for years.
To me the post insinuates Trump is profiting from other peoples money via an insurance claim on a catastrophic event and my response was to the bolded, rather sarcastic I will admit.
Quote:
Originally Posted by 2mares
What do you think about the insurance companies who take all those premium checks month after month, year after year and enrich themselves on the investment using other peoples money.
This simply pointing out it is not the claimant making money or "enriching themselves using other peoples money" when they file a claim, it is the insurance company who ultimately profits from using other peoples money.
I'm not sure why that is so difficult. Im not attacking insurance companies and I'm not saying it is ok to file false claims. Geez.
I think there is a big misunderstanding. For one I'm not attacking insurance companies. You seem to be having a problem with me stating a fact than insurance do make a profit. And I know to some extent how insurances companies work.
Here is how it went.
To me the post insinuates Trump is profiting from other peoples money via an insurance claim on a catastrophic event and my response was to the bolded, rather sarcastic I will admit.
This simply pointing out it is not the claimant making money or "enriching themselves using other peoples money" when they file a claim, it is the insurance company who ultimately profits from using other peoples money.
I'm not sure why that is so difficult. Im not attacking insurance companies and I'm not saying it is ok to file false claims. Geez.
If the claim was indeed false and was paid out anyway, then there is absolutely no way to argue that someone who has benefited in that way isn't enriching his/herself from other people's money.
Still have no idea why you went off on the tangent of insurance companies profits since all this thread is about is Trump allegedly filing a false claim and benefiting from same.
In your repeated claims about insurance companies profiting, it really does sound like you think that there is some correlation between their legal enterprise and this criminal allegation.
It's like arguing that because people can withdraw money from their bank accounts that someone robbing the bank isn't committing a crime.
If the claim was indeed false and was paid out anyway, then there is absolutely no way to argue that someone who has benefited in that way isn't enriching his/herself from other people's money.
Still have no idea why you went off on the tangent of insurance companies profits since all this thread is about is Trump allegedly filing a false claim and benefiting from same.
In your repeated claims about insurance companies profiting, it really does sound like you think that there is some correlation between their legal enterprise and this criminal allegation.
It's like arguing that because people can withdraw money from their bank accounts that someone robbing the bank isn't committing a crime.
Well its not about a false insurance claim. There wasn't a charge of a false claim and no investigation of a false claim. This was all brought up during a deposition in a libel suit 14 years ago.
The monies paid in claims are not other peoples money. When you pay your premium that money becomes the insurance company's money.
I did not go off on a tangent. I used the fact that insurance companies use customer premiums and invest them. That is one way they make money.
Only stating insurance companies generally make a profit, just like other businesses they make profits or they fail. That is the goal of business, no? to make a profit. I'm not sure why just stating that is getting people riled up.
I think there is a big misunderstanding. For one I'm not attacking insurance companies. You seem to be having a problem with me stating a fact than insurance do make a profit. And I know to some extent how insurances companies work.
Here is how it went.
To me the post insinuates Trump is profiting from other peoples money via an insurance claim on a catastrophic event and my response was to the bolded, rather sarcastic I will admit.
This simply pointing out it is not the claimant making money or "enriching themselves using other peoples money" when they file a claim, it is the insurance company who ultimately profits from using other peoples money.
I'm not sure why that is so difficult. Im not attacking insurance companies and I'm not saying it is ok to file false claims. Geez.
Written communication is inherently difficult. Clearly we were misunderstanding one another.
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