Finally Someone In Florida Government Agrees that Insurance Companies Are Receiving Too Much Profit
Florida newly-elected governor, Charlie Crist, recently went on the attack against the insurance industry, telling reporters that he’s not sure he trusts the insurers to set their rates fairly.
“Insurance companies are making extraordinary profits,” Crist said, noting a profit of $60 billion–not million, but BILLION nationally last year. “I’m a little skeptical about this business.”
“Big insurance has a new day coming,” Crist said.
Florida’s governor’s criticism is supported by him noting that Allstate paid reportedly millions to sponsor the Sugar Bowl football game this year in New Orleans between Notre Dame and Louisiana State. “That tells you something about how well this industry is doing, how profitable it has been,” Crist said. “I’m all for making a profit, but I’m not for profiteering on the backs of Floridians at a time of need.”
We will have to see whether Crist means what he says. There is no reason why insurance companies can make 60 billion dollars profit while injured people have to wonder how they are going to feed their family because the insurance company has failed to compensate them for their injuries.