Insurance Carriers and Premium Rates?

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      Anonymous
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      With the increasing cost of insurance permiums across the board (not just medical) are the carriers ultimately going to put themselves out of business?

      I hear of it everyday (I work in the insurance industry); business owners cannot compete because their liability insurance has gone up so they close shop, homeowners cannot afford their homeowners insurance because their premium has gone up (especially those on a fixed income), public events have been cancelled because their general liability premium has gone up too. These are just a few examples.

      When all these policies are being cancelled due to cost issues the carriers aren’t earning the premiums; sooner or later something has to give. What will that be and when?
      What’s most interesting about all this is prior to Nixon insurance wasn’t a big issue. I think we’ve all been brainwashed to think that insurance is a necessity of life, like food and water; when in reality it isn’t.

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