Quote:
Originally Posted by Derwood
Isn't the larger problem that the big players in the insurance business more or less collude with one another by sharing information and artificially setting prices? In other words, we have the exact opposite of competition
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This is a BS statement without any proof. If you can show me ANY date backing up this claim then I would be able to entertain the notion, but that just isn't the case. Insurance companies are constantly competeing to get your business. Businesses shop around every single year to get the best rates they can get, there is plenty of competition in most states.
However there are some states where only 1 or 2 companies do business, having a national set of insurance regs would eliminate the need to be appointed by individual states to do business allowing for greater competition.