Yes, rates do not well relate to losses. And yes the market rules. The result has been insurance company bankruptcy or consolidation. Continental, big Aetna, little Aetna, Travelers part 1, Home, Highlands, Kemper, etc.
Maybe in retrospect we could do with a bit more regulation as the market is consolidating into a few bully companies. Obviously, the regulation is uninformed and incompetent. The fact that the prior comments are so off the mark shows we have a lot of self-assessment and education to accomplish in this industry. But it won\’t happen.
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Yes, rates do not well relate to losses. And yes the market rules. The result has been insurance company bankruptcy or consolidation. Continental, big Aetna, little Aetna, Travelers part 1, Home, Highlands, Kemper, etc.
Maybe in retrospect we could do with a bit more regulation as the market is consolidating into a few bully companies. Obviously, the regulation is uninformed and incompetent. The fact that the prior comments are so off the mark shows we have a lot of self-assessment and education to accomplish in this industry. But it won\’t happen.
Enough carping–what to do about it?