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re: Does insurance violate the basic laws of economics?
Posted on 3/1/24 at 2:03 pm to LSUFanHouston
Posted on 3/1/24 at 2:03 pm to LSUFanHouston
Every business tries to give you the least value for your money at the most profit possible. The free market creates competition that over time reduces profit margins and increases value to the consumer. Insurance attempting to deny claims is part of that capitalistic concept. You have to think of insurance policy holders as a single consumer, and the insurance denying claims on any individuals increases their overall margin
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