I heard it again over the last couple of weeks: the insurance industry is falling apart because of us danged trial lawyers. Yes, I am a menace to multi-billion dollar companies. (Of course, they fail to mention that they could make trial lawyers go away quickly: start treating people fairly and paying a fair amount to settle a case.)
Oh, and I forgot: their is no crisis. Profits were up $15 billion to $44 billion. Don’t believe me? It comes from the Insurance Information Institute – an insurance organization. The return was 13% on their investment. Not bad considering most people didn’t make that type of return on their investments.
Oh, and one more thing: that was only the first 9 months of 2006. Just thought you should know where your money is going.