insurance

[rcarpen at network1.net (Randy Carpenter)]

> >> The reality is that with the mega-insurance companies able to set
> >> whatever crazy premiums they feel like, and raise them every
> >> other month, the cost of being fully insured is sometimes more
> >> than what you can charge as a consultant.
> > 
> > This is just not true. Insurance companies are regulated by State
> > Insurance boards. If an insurance company wants to raise rates,
> > they
> > have to submit a proposal to the their state insurance board. They
> > can
> > only raise rates for a "class" of customers. For example, all
> > customers
> > aged 50 - 62.
> > 
> 
> This is generally NOT true for E&O and Professional liability
> insurance.
> 
> For the most part, that goes largely unregulated. The state insurance
> boards
> tend to focus on consumer-oriented forms of insurance (auto, home,
> life).
> 
> Owen

Yep. I don't remember the specifics, but our quote was ridiculous (like $thousands per month). Our health insurance premiums also goes up 30+% nearly every year. So much for regulation there...

-Randy