Please help put regulations in place to stop the price gauging going on with car and homeowners insurance rates. It’s unsustainable and are unaffordable
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Can you expand on what, specifically, you think should be done to solve the problem? Possibly elaborate on what you might think is specifically causing the problem?
Contrary to what some politicians want you to believe, health insurers for one make about a 6% profit margin on revenue, I presume other insurers are similar. So there’s not a lot of profit to cut. Insurance costs are almost totally driven by cost of claims paid and those costs have gone through the roof. To reduce premium costs you will need to reduce the cost of claims paid, which is difficult.