This big insurance company scandal that Spitzer is going after

[AlCzervik]

Could this be a big part of premium costs and not the fault of "Personal injury lawyers"

[Hard Attack]

1. Could Be.,..

These insurance companies are nothing more than 'Rackets'

My insurance has basically doubled because I went from a Group rate to single rate with the same company.

Go Elliot Go!

[burythehatchet]

2. I don't think so

neither one is the driving force behind premium increases.

[The Backlash Cometh]

3. Okay, big question:

Insurance Companies lose money in two ways:

(1) Paying out large policy claims.
(2) Losses from private investments such as from the Stock Market or Periodic Real Estate busts.

Is there any way to determine the percentages of both from year to year? I'm asking because, No. 2 is basically the by-product of privatization and if we can spot a loss trend for the insurance company and how it's affecting the premiums, I think we have another weapons against privatization of Social Security.

[AlCzervik]

5. I sont know but that info would be awfully helpful

[ldf]

4. SPITZER

is the man!

i hope he goes far in the dem party.

[petersjo]

6. What I have heard about ins companies & malpractice ins

My understanding about the skyrocketing premiums for malpractice ins is that it has little to do with paying claims. In fact, payments for malpractice claims in total dollars per year has actually decreased over the last 10 years or so. The problem is in large part due to ins companies losing money they've invested in the stock market--losing so heavily that they are attempting to make up the shortfall by raising premiums. That makes sense to me considering that the market is no where near as solid and steady as it was during the Clinton years--well over 11,000 at times in 2000 as I recall.

[SoCalDem]

7. It's front page news when a $120Million award is granted by a jury, BUT

7 years later when the appeals have wound their ways through court, and a 1M settlement is reached, it's OLD NEWS..

This is what dumb people do not realize.. Juries can award pretty much ANYTHING..but our court system is always "stacked" in favor of the moneyed class.. the appeals go on FOREVER..Especially if it's against a judgement for a person who is desperately ill, and in danger of dying.. The corporate lawyers have all the time in the world, and they know how to stall.. Eventually, the family will settle for a lot less, and the company lawyers know it..

Has the Brown family collected much (if any) of the 36M settlement against OJ???

nope,

[donkeyotay]

8. And the other underlying story is the issue of corporate scandal

OK, they prosecuted Martha Stewart, but other than that? Looks like Wall St. is right back in the dumpster of corporate corruption. In the 4 years he had, the idiot in chief did nothing substantial to clean up corporate corruption. I can't even keep up with it all. The last one I heard about was Norvergence, a company that sounds like it was just a scam.

I want Spitzer, or some other pit bull to clean house. Put the fear of the law back in the financial community.