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Car Insurance Industry Reports Profits

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Old 02-18-2005 | 08:02 AM
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Car Insurance Industry Reports RECORD Profits

http://www.canoe.ca/NewsStand/Toront...34848-sun.html

ING Canada alone is forecasting a profit of 600%

how am i NOT surprised

Last edited by goneinsixtyseconds; 02-18-2005 at 12:51 PM.
Old 02-18-2005 | 09:49 AM
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"I find a 600% hike in profit absolutely obscene".
Your damn right that's obscene.
Old 02-18-2005 | 09:50 AM
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ouuuuuupsssss
Old 02-18-2005 | 10:09 AM
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600... wow.. must have been a nice xmas bonus..
I heard a while back that car insurance payers will see a bit of a discount on their renewal this year..
Old 02-18-2005 | 10:12 AM
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They jacked up my rates about 8 months ago and lowered them back to what they were to make it seem as if they're giving me a break
Old 02-18-2005 | 12:43 PM
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Originally Posted by midrange
600... wow.. must have been a nice xmas bonus..
I heard a while back that car insurance payers will see a bit of a discount on their renewal this year..
yeah, the mcguinty government promised a 10% reduction in car insurance (it was part of their platform during election time) and they did implement it and i personally did get a 10% reduction in my own car insurance premiums, but a lot of people didn't get this apparently.

plus, with these record profits, they SHOULD reduce rates by FAR more than 10%, especially when we in canada pay obscene amounts relative to the US, rumour has it that average rates in the US are like what? less than $500 PER YEAR? it's insane
Old 02-18-2005 | 01:00 PM
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what's worse is that a year or so ago the car insurance industry was crying foul about how they weren't making enough money to basically cover their customers, hence why they had to jack up their rates ...

surprise surprise they're now recording profits in the billions range which pisses me off so much damn greedy conniving bastards
Old 02-18-2005 | 01:40 PM
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Originally Posted by goneinsixtyseconds
what's worse is that a year or so ago the car insurance industry was crying foul about how they weren't making enough money to basically cover their customers, hence why they had to jack up their rates ...

surprise surprise they're now recording profits in the billions range which pisses me off so much damn greedy conniving bastards
Yup, any way to screw you.. Well i thought it was around the 10% range.. i heard it on the news.. I'm not gona cry about it as my insurance is way cheaper then it use to be.. But i see some of you guys saying what you pay, and i think its rediculous.. Paying for other peoples mistakes..
Old 02-20-2005 | 09:22 PM
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600%...

good time to invest... save you money
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