Carrier says move the business or 1% commission at renewal!!

[Markthebroker]

Lol. Carrier not making money. I have read lots of media reports that carriers make money hand over fist between not oaying claims as a business model & making massive coin in the stock markets with the consumers premiums. Glorified ponzi scheme

Uhuh. To be fair, I read media reports that say there's no such thing as gender, and men can get pregnant, and math is racist.

In most cases, yes. Insurance companies make money hand over fist.

However, in my state, so many carriers are losing money left and right they're just straight up refusing to do business, and basically leaving the market.

 

[marindependent]

Lol. Carrier not making money. I have read lots of media reports that carriers make money hand over fist between not oaying claims as a business model & making massive coin in the stock markets with the consumers premiums. Glorified ponzi scheme

If it were a glorified [legal] ponzi scheme where one could make Gobs of Money - Why don't any insurers want the business? Tech Startups have entered and [mostly] left. All of the talk of insurers making so much money are typically not backed up by their hesitancy to do it again.

In California State Farm was the final major insurer to read the memo and critically look at the situation.

 

[MIGA1626]

I have had it with these carriers. Its about time we do SOMETHING! POWER TO THE PEOPLE (agents).