Quote:
Originally posted by LATau
The one thing you failed to realize is that insurance companies are still posting record earnings, and that they only insure people if they are sure they will make a profit. This is the point of business. It should be self evident that if a well run non profit insurance company was started on behalf of the GLOs, people would pay less money in premiums.
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I think you'll find that the company that brokers the "self insured" piece I've talked of above is simply a managment company -- not someone like Prudential or Lloyds.
The pool of money belongs to the consortium of fraternities. It does not come from profits on policies -- if there are any.
It is not your typical insurance company that is set up for profits. It is set up for self protection.