No Minimum Wages Here!

National consumer organizations and the Consumer Federation of America released a study in January stating that the property/casualty insurance industry has dramatically increased profits and surplus in recent years, in part by systematically over-charging for insurance and shifting costs to consumers and taxpayers. The groups say that the report provides extensive data demonstrating that property/casualty insurance companies are paying out lower claims in relationship to the premiums they charge consumers than at any time in decades. The combined ratio, the study contends, appears to be the lowest on record in 50 years. Profits, on the other hand, were high.

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