'Occupy' types

[firstdown]

Originally Posted by over the mountain

But should it be that way? Should we just accept the status quo that big business lays out for us?

the state of maryland created this auto insurance entity called MAIF (md auto ins fund) that has to provide auto ins to md licensed drivers who have been denied by 2 or more auto ins companies. this is b/c auto ins is required in md and the state had to provide some protection for md drivers who couldnt otherwise get approved for insurance.

last year, MAIF decided they were going to cut their rates b/c they were operating a 146 million dollar surplus. the other insurance companies complained that it would hurt their competitive market if MAIF dropped their rates below the industry average and that it would cause MAIF to possibly become default. The ins. companies want that surplus there to protect them from having to bail out the MAIF.

MAIF said how is cutting our rates by 6 million going to make us default? all it will do is mean we wil be running a 140 mil instead of a 146 mil surplus.

These big business industries are bleeding us dry.

corporate greed is rampant. i get it, its a capitalist market, yada yada yada.

but i shouldnt have to work this hard just to eek by in life. health insurance and banks push as far as they can.

Thats an assumption that could prove to be wrong. Do you know who has to bail out the MAIF if it fails? The insurance companies that write auto ins. in MD so there is more to the story. The ins. companies want that suplus to keep them from having to bail out the MAIF.