Quote:
Originally Posted by Grindin  forgive my ignorance, but can someone please explain to me why allowing insurers to compete across state lines WOULDN'T increase competition therefore forcing these insurers to drop prices. Thanks. |
Because they compete to collect your money, seizing the almost imperfect information on pricing, but they do not compete to pay your money back when you need it. Their inventory is money, and money can't add value to itself, so the only source of profit is to collect money from you and try not pay it back.