View Poll Results: What is the best way to run an insurance company?

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  • Charge the highest premiums possible. Pay out the least possible.

    13 59.09%
  • Charge the lowest premiums possible. Pay our the most possible.

    7 31.82%
  • Do what is best for the world even if it loses you money.

    2 9.09%
  • Close it down so that everyone will be screwed.

    0 0%
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Thread: What is the best way to run an insurance company?

  1. #41
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    What is the best way to run an insurance company?

    vasuderatorrent
    Unanswerable until you identify best for WHOM. Insureds? Shareholders? Insurance Co. CEOs? The country? Verna Smith in Kentucky? Best for WHOM? Each identification would probably have a different answer.

  2. #42
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    What is the best way to run an insurance company?

    vasuderatorrent
    The best way to run an insurance company? Like a business.

  3. #43
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by JumpinJack View Post
    Unanswerable until you identify best for WHOM. Insureds? Shareholders? Insurance Co. CEOs? The country? Verna Smith in Kentucky? Best for WHOM? Each identification would probably have a different answer.
    Key word, company. I didn't say an insurance charity. I didn't say an insurance government. I didn't say Verna Smith's personal insurance company.

    Since it's a company that would mean what's best for the shareholders. Don't worry. Lots of Americans don't understand this concept. Some CEO's don't even understand this concept.

    The purpose of a company is to earn a profit for the shareholders. Plan your answer accordingly.

  4. #44
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by StillBallin75 View Post
    I don't think the choices you offer reflect what businesses actually do...
    The first choice is exactly what businesses do.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  5. #45
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    Key word, company. I didn't say an insurance charity. I didn't say an insurance government. I didn't say Verna Smith's personal insurance company.

    Since it's a company that would mean what's best for the shareholders. Don't worry. Lots of Americans don't understand this concept. Some CEO's don't even understand this concept.

    The purpose of a company is to earn a profit for the shareholders. Plan your answer accordingly.
    In that case, I can't answer, since you didn't provide that choice. My answer would be:

    Make the most profit that is ethically and morally responsible for the company, the country, and the insureds.

    (I do believe that even in the making of profits, companies, like people, should be ethical and morally responsible and "do no harm." This is the concept behind not price gouging in the midst of a disaster.)

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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by JumpinJack View Post
    In that case, I can't answer, since you didn't provide that choice. My answer would be:

    Make the most profit that is ethically and morally responsible for the company, the country, and the insureds.

    (I do believe that even in the making of profits, companies, like people, should be ethical and morally responsible and "do no harm." This is the concept behind not price gouging in the midst of a disaster.)
    Option 3 might be the choice you are looking for. What is it that you don't like about Option 3?

  7. #47
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    Re: What is the best way to run an insurance company?

    Obviously, the best way, for the owners and the investors, is exactly the way things are done now.
    IMO, health insurance should be non-profit - another government agency....but united with social security...

  8. #48
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    Re: What is the best way to run an insurance company?

    You do realize insuracne companies spend healthcare money on things besides healthcare. Without them the contry would have more money to spend on medical care for its citzens. splain to me again why they are so needed.
    Quote Originally Posted by earthworm View Post
    Obviously, the best way, for the owners and the investors, is exactly the way things are done now.
    IMO, health insurance should be non-profit - another government agency....but united with social security...
    God Bless the Marine Corps.

  9. #49
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by USViking View Post
    I was an insurance adjuster for about five years (1973-1979). Mostly auto but also some Workmens Comp and Homeowners. I handled about 1500-2000 claims total. Cash settlement was made in probably over 90% of them; total paid on claims was probably over $1 million. The state (NC) Insurance Commissioner was very aggressive in following up on consumer complaints, and also on reining in premium increases.

    Seems as though you have suffered some kind of loss, and insurance settlement was either lower than you thought appropriate, or your claim was denied.

    Want to give us the details so we can try to judge your case on its merits? You might also consider having the state IC office look into the matter.
    So you're the one.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by apdst View Post
    The first choice is exactly what businesses do.
    Greedy CEOs!
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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