Insurance Co Not on Your Side
All of the insurance companies, with the exception of a few, are for-profit entities and the obligation of the managers of the insurance is to make profits for the company. Therefore, as a profit-driven enterprise, they have figured out ways to make money on the underwriting aspect of it. It used to be just that they would be paid premiums, and would hold the premiums and then pay them out to people who were injured. They would make their money on the float while they were holding the money before they paid it out. Now, I think most insurance companies look at this underwriting on these types of insurance as a profit center to earn money for their shareholders.
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