Thread: Insurance
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Old 02-03-04, 03:19 PM   #40 (permalink)
MouseKilla's Avatar
Join Date: Jun-2003
Location: Oshawa
Posts: 1,346
those sweet and kind insurers

Originally posted by C_Ellenzweig
First of all, I'd like to state that insurance companies are not the "scum of the earth".
Oh, come on now, most of us here have auto insurance in Ontario so that's a hard sell!

Insurance is one of the largest industries in the country and employs hundreds of thousands of people.[/B]
Yeah, right... so does cocaine, is that a beneficial industry too?

The only way they make money is by investing that large pool of money (In case you didn't notice, the stock markets weren't great over the last couple years). On top of that, insurance companies lose TONS of money on auto policies. There is not one profitable auto line in Canada.[/B]
Finally an admission from the insurance industry that it was their foolish trust in the market and poor investment choices are what is REALLY driving our auto insurance through the roof. Let me get this straight, you take the money I give you every month and gamble it all away and I get to absorb the lost projected profits? Guess there really is no risk of investing badly when you can slough the losses onto a captive market like the one in Ontario and other places not wise enough to adopt public auto insurance.
I feel a little light headed... maybe you should drive...
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