Why does everyone on this list seem to be so mad at insurance companies?
Because the way they operate borders on extortion. They collect your premiums
then scare you into NOT filing legitimate claims for fear of losing your
coverage or having an astronomic hike in premium.
Why is there so much fraud?
Could it be that people don't mind ripping off a crook?
73,
Barry W2UP
Dr. Howard S. White wrote:
> Why does everyone on this list seem to be so mad at insurance companies?
> What is the crime in trying to earn a profit? Insurance companies like all
> businesses are in business to make money or they could not exist.
>
> Yes, insurance companies pay legitimate claims... but so many claims are
> just plain fraudulent.. and so many claims are horrendously inflated by our
> out of control tort system where lawyers are allowed to convince the
> uneducted who make up our juries to award outrageous settlements.
>
> Before you blame the insurance companies... take a look at reality.. they
> took a major hit this hurricane season... we all have to pay for that...
> that's how insurance works...they spread the risk to the policy holders...
> Payment of claims comes out of the premiums they collect not out of some
> mythological pie in the insurance sky...
>
> Insurance companies are tightly regulated and can be rather competitive...
> it is not that profitable a business...
>
> No... I do not nor have I ever worked in the Insurance Industry... I just
> understand how business works...
> __________________________________________________________
> Howard S. White Ph.D. P. Eng., VE3GFW/K6 ex-AE6SM KY6LA
> Website: www.ky6la.com
> "No Good Deed Goes Unpunished"
> "Ham Antennas Save Lives - Katrina, 2003 San Diego Fires, 911"
> ----- Original Message -----
> From: "Roger Parsons" <ve3zi@yahoo.com>
> To: <towertalk@contesting.com>
> Sent: Thursday, March 23, 2006 11:19 PM
> Subject: [TowerTalk] TowerTalk] Home insurance news/tips vis. antennas
>
>
> The advice given is sadly correct.
>
> Several decades ago I had a friend who was an
> insurance loss adjuster. He said on a number of
> occasions: "Insurance companies don't mind paying
> legitimate claims - every business has costs, and
> claims are the main one for insurance companies.
> Actuaries understand that it is impossible to predict
> any single event, but that the long term trend is
> susceptible to statistical analysis."
>
> My feeling is that today insurance companies DO mind
> paying claims - any claims - and they mind intensely.
> In my book they are marginally better than the banks,
> who are marginally better than the gas companies....
>
> 73 Roger
> VE3ZI
>
>
>
>
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--
Barry Kutner, W2UP
Newtown, PA
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