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Posted by john copeman ontario can. on Sunday, March 16, 2008 at 12:34:23 :
In Reply to: Truck Insurance posted by Joe Cimoch on Sunday, March 16, 2008 at 11:42:45 :
Insurance companie are interested in one thing: making money primarily>Paying claims is secondary ,the cost of claims is forever rising,settlements and repairs are astronomical and this bites in to their bottom line>But that is only half the problem in the insurance bussiness,the biggest concern of the company is to make money, on money that they are not paying out >Since they (insuarance companies)are REINVESTING the money you gave them they are faced with a declining margin in their investments, as the ecomomy faces a down turn ,compounded by a regulated market they face smaller profits < Insurance is a necassary evil,every body has to pay it and they know it >With a reccesion on the horizon i would speculate insurance rates to sky rocket how else can they explain to share holders a loss! its not going to happen !These companies feed on dollars not coustomers satisfaction
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